Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
A third distillate disruption
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Gas pricing finds a new norm
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
Oil demand ramps up air miles
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
The history of tobacco has been repeated with the oil industry
Opinion
Europe Markets
Adi Imsirovic
London
21 December 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Letter from Europe: Tobacco offers warning for oil

Moving on from burning fossil fuels for energy will not be easy, but it is ultimately a habit the world will need to kick

In some ways it may be churlish to draw parallels between the tobacco industry and the oil sector. After all, oil was one of the wonders of the 20th century. It is probably the most useful resource that we have ever discovered. The energy that oil contains, the ease with which it can be transported and its versatility are astonishing. But the plight of the tobacco industry offers an important lesson for oil industry executives: whataboutery and a strong PR campaign only go so far. Making good on the pledges at COP28 will be the oil industry’s moment of truth. The tobacco industry knew smoking was detrimental to human health from the early 1950s. As the scientific knowledge improved, the bigg

Also in this section
Latest EU sanctions largely toothless
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
A third distillate disruption
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
BP’s long stay in Russia
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
Arbitration with Gazprom: How to collect
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search