Changing Oil

A case study by the World Resources Institute evaluating the financial risks posed to 16 leading oil and gas companies by climate change policies and constrained reserve access.

• The oil and gas industry faces two primary environmental challenges over the next ten years: policies aimed at fighting climate change and limited access to oil and gas reserves. These factors may influence shareholder value, asset values, operating costs, and sales.
• An analysis of 16 major oil and gas companies indicates that shareholder value across the sector could decrease by 1 to 6 percent if investors factored in these environmental risks. The impact varies by company based on their distribution of reserves and asset bases.
• Certain scenarios could result in financial gains for companies, specifically if permits for greenhouse gas emissions are grandfathered or if the prices of natural gas increase. However, it remains uncertain if investors are currently considering these financial risks and competitive advantages.

APA

World Resources Institute (n.d.). Changing Oil. https://www.wri.org/research/changing-oil

Chicago

World Resources Institute. Changing Oil. n.d. https://www.wri.org/research/changing-oil.

Wikipedia

{{cite report |author=World Resources Institute |title=Changing Oil |url=https://www.wri.org/research/changing-oil |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitutendchanging, author = {{World Resources Institute}}, title = {{Changing Oil}}, institution = {World Resources Institute}, url = {https://www.wri.org/research/changing-oil}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }