The decision of the Maersk group to sell its oil and gas division is partly due to specific circumstances, but it is also a vote of no confidence in the future of the oil industry now that peak oil demand and US shale oil imply systematically lower profitability, writes geophysicist Jilles van den Beukel. But Total clearly feels there is still a future for low-cost conventional oil, particularly in politically stable countries like Denmark and … [Read more...]
Why the next oil price spike may cripple the oil industry
Two diametrically opposed views dominate the current debate about where the oil price is heading: one says lower for longer, the other says up. According to Andreas de Vries and Salman Ghouri, both are right. But the next oil price spike may prove to be the last gasp of the oil industry. Article courtesy Oilprice.com. … [Read more...]
Not your daddy’s oil? Maybe not, but Millennials won’t work in it
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials. But unlike any other industry, oil and gas is facing more challenges in persuading the environmentally-conscious Millennials that oil is "cool", writes Tsvetana Paraskova of Oilprice.com. “Many Milennials believe the sector is lacking in innovation, agility and creativity, as well as … [Read more...]
Carbon-pusher in Chief: Trump’s fossil-fueled foreign policy
Donald Trump’s efforts to promote fossil fuel consumption has become a defining theme of his foreign policy, writes Michael Klare, expert and author of many books on energy and foreign policy. Trump’s words and actions make that all too clear – although the media and most commentators have so far failed to notice. Courtesy Tom Dispatch. … [Read more...]
It’s nonsense to say fracking can be made safe, whatever guidelines we come up with
With companies in the UK (Cuadrilla Resources, Third Energy) getting ready to frack for shale gas, the debate over whether this can be done safely has once again flared up. According to Professor Richard Davies of Newcastle University it is possible to manage and reduce risks, but it is an illusion to believe fracking can ever be completely safe. Courtesy The Conversation. … [Read more...]
Remi Eriksen, CEO DNV GL: Gas and renewables can be best of ‘frenemies’
Gas could be the ideal partner for renewable energy generation in a future sustainable energy mix, writes Remi Eriksen, Group President and CEO of DNV GL, one of the largest risk management providers in the world with operations in more than 100 countries. However, for this to happen, the oil and gas industry must help policymakers and the public become aware of all the benefits of gas, notes Eriksen, not just the economic ones. Also, the … [Read more...]
A new energy bible: Samuele Furfari explains why technology is king
If you’re in the energy business, here is a new manual for you that lays out the essentials of what energy is and how it shapes geopolitics today. Professor and long-time European Commission official Samuele Furfari has condensed his 39 years of experience in the energy sector into a two-volume tome of more than 1,250 pages that goes right from the fundamentals of physics through Britain’s rule of the Middle East to modern day realities such as … [Read more...]
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