According to a new report from Lux Research, the oil companies of the future may resemble the tech companies of today. Moreover, if these companies fail to adapt to the changing digital landscape faced by all industries, they could be left behind.

In the new report, The Digital Transformation of Oil and Gas, Lux analysts make a strong case for oil and gas companies to embrace the global economy’s shift toward a more digital-friendly way of doing business.

“No industry is immune to the rapidly shifting digital landscape, including very traditional ones such as oil and gas,” said Harshit Sharma, analyst at Lux Research and the lead author of the report. “If the world’s major oil and gas producers don’t embrace these changes and implement systems and processes that will help them scale digitally, they very much risk failing to meet the needs of their global customers, and they will likely lose market share to their counterparts that do adapt.

Not unlike the continually evolving landscape of Silicon Valley, Lux predicts that these changes will be swift, and that leaders at the helm of oil and gas companies will have to move quickly and efficiently.

“The companies that do this right and meet the challenges and opportunities posed by the digital age will have to be leaders in innovation,” said Sharma. “Like their peers in other industries that have undergone these changes, the leaders who continually push the envelope and force their operations to keep evolving will likely be most successful.”  CLICK for complete article

In Seoul, South Korea, every public building and 1 million homes will have solar panels by 2022. South Korea, the world’s fourth-largest coal importer, is making a concerted effort to shift to green energy after public pressure to do so and aims to generate 35% of its electricity from renewables by 2040.

South Korea is Asia’s fourth-largest economy, and it currently relies on nuclear, gas, and coal for power. The government had originally planned to retrofit 20 of its 60 coal plants with anti-pollution gear when they reached 30 years of age, but this idea has been abandoned, as it’s not cost-effective. According to a June Reuters article:

“To have more renewable power, we can make coal power plants run lower,” said Kang Seung-jin, energy professor at Korea Polytechnic University, who is helping to map out the 2019 plan.

According to the World Economic Forum:

The World Economic Forum’s Energy Transition Index, which benchmarks countries’ energy systems and supports them as they move to cleaner power sources, ranks South Korea 48th out of 115 nations surveyed. Its capital wants to lead the transition.

In November 2017, the capital city’s government announced the 2022 Solar City Seoul Plan, in which it said it would add 1 GW of solar capacity by 2022. This has already cut more than 100 metric tons of carbon dioxide emissions…CLICK for complete article

The transportation industry boasts this inglorious claim to fame: It’s responsible for nearly 30 percent of all greenhouse gas emissions in the United States.

Of that, cars and trucks alone are believed to be responsible for nearly one-fifth of all U.S. emissions.

It’s not profit loss. It’s how much Americans lost on average every year due to traffic congestion.

Americans have lost an average of 97 hours a year due to congestion, which costs them roughly $87 billion, or an average of $1,348 per driver, according to 2018 INRIX National Traffic Scorecard.

And it’s about to get worse.

The market now is all about doing two things at once: cleaning up and getting out of traffic. The tech advance that makes both possible wins on all levels.

Here are the 5 cleanest modes of travel right now…CLICK for complete article