“As international climate policy puts more pressure on fossil fuel companies to look for new business models, geothermal offers a way to repurpose what they know best: drilling, extraction, and infrastructure. “Geothermal is their way out,” said Sanjeev Kumar, head of policy at the European Geothermal Energy Council.
Geothermal is an opportunity not just for oil and gas companies, but also for the oil and gas workers losing their jobs because of the price crash, or who may soon lose them due to climate policy. Many of the jobs and skill sets are transferable, from exploration geologists to drillers to power plant operators.”
See earlier article : Critics Decry ‘Massive Step in Wrong Direction’ as Big Banks Move to Buy Up Fracking Industry Assets With Coronavirus Bailout Funds
As oil crashes, ‘America’s untapped energy giant’ could rise