Robert Campbell is head of energy transition research at Energy Aspects, a global energy market fundamentals’ research group. Robert started Energy Aspects’ coverage of oil products’ market in 2013 and headed up downstream oil markets’ analysis until the end of 2021. Robert then shifted focus to provide clients with a robust view of the implications of energy transition policies on todays’ energy markets. Although current policies in most countries fall well short of what is needed to reach the goals of the Paris Accord, their implications are profound from the current shifting policy framework for both fossil and renewable energy markets. Likewise, corporate thinking has changed dramatically about sustainability and long-life assets. These two factors will significantly alter the downstream oil industry over the next five years as even profitable assets may struggle to attract the investment needed to remain in operation.