Oil companies and oil-exporting countries face increasing pressure to adapt to the global energy transition. But what exactly are they adapting to? The question may be unanswerable. This makes the adaptation process difficult and requires that stakeholders adopt an extended business model that integrates renewables into their hydrocarbon business.
At the very least, uncertainty surrounds the energy mix of the future, based on 250 years of energy industry history, which we reviewed in a paper
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