The history of tobacco has been repeated with the oil industry
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
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
