Experts predict global fossil fuel giants will lose billions & struggle to survive

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Australia’s gas and coal exporters are anticipated to experience a significant decline in revenue over the next five years, according to fresh projections from the federal government. These forecasts indicate that fossil fuel prices will continue to decrease from the historic highs observed following Russia’s invasion of Ukraine. Fossil fuel shipments played a pivotal role in driving record export revenue from Australia’s resources sector for consecutive years in 2022 and 2023. The conclusion of COVID-19 lockdowns sparked a resurgence in energy demand, while the conflict in Ukraine disrupted global supplies, resulting in a surge for available cargo and substantial price escalations.

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