Powerplays, politics and panic - has BIG OIL wrestled back control?

President Trump has removed Nicolás Maduro from Venezuela and the whole world knows it was a move to secure that country's vast oil reserves. The fossil fuel industry has forced the International Energy Agency to reinstate energy projections that include oil and gas well into the second half of the century, and Putin is still selling huge volumes of oil via his ghost fleets with almost complete impunity. Meanwhile OPEC continues to manipulate global crude prices in their favour. So, have the fossil fuel overlords finally wrestled back control? Is there any hope for a just renewable energy transition?

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Reference Links

IEA World Energy Outlook 2025
https://www.iea.org/news/as-risks-multiply-in-a-world-thirsty-for-energy-diversification-and-cooperation-are-more-urgent-than-ever

Wood Mackenzie Energy Transition Outlook 2025
https://www.woodmac.com/market-insights/topics/energy-transition-outlook

Rystad Global Energy Scenarios 2025
https://www.rystadenergy.com/flagship-report-energy-scenarios-2025

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