Despite high oil prices sending energy company profits soaring over the last year, little of those profits have been reinvested in the oil and gas business. As oil and gas companies acknowledge the inevitability of an energy transition in the future, many are pumping funds into their clean energy business and returning money to shareholders. However, energy experts are concerned that underinvestment in oil and gas could threaten the world’s energy security at a time when the demand for fossil fuels is high and climbing.
