Oil to $10 to defend what’s left of its turf – investment analyst

It is fairly easy for us on Rethink Energy to say that electricity will replace the petroleum part of the $75 trillion oil business, and that will lead to a massive reduction in the demand for oil by around 2035. But when it is said by someone who is supposed to be valuing oil businesses, and who has the job title of Global head of Sustainability Research at BNP Paribas Asset Management, then it carries considerably more clout. Mark Lewis is that man and has just written a paper that echoes the thoughts of all of us in renewables – Lewis has been around energy for a while, he was Head of Research at the Carbon Tracker Initiative, and head…