Related Articles
Outlook 2017
Forward article link
Share PDF with colleagues

Oilmageddon

Prices down or up – it doesn’t matter. The world’s oil sector is in the endgame

In my book, The Winning of the Carbon War, I argue that 2013 to 2015 were turn-around years that will lead to decarbonisation of the global economy. The course of 2016, I suggest, has been consistent with a global transition from fossil-fuel dominance to the zero-carbon economy. If this analysis is correct, the oil and gas industry is heading for a future very different to its past - 2017 will simply confirm the trend. Three fundamental megatrends are at work. First, society is awakening in critical mass to the twin threats of climate change and air pollution - and responding. Second, an energy insurgency is disrupting established energy markets, fast. Third, the energy incumbency is facing

Also in this section
Opec: more of the same
26 May 2017
Extending the cuts for nine months is designed to kill off the stock glut, but the pledge to keep going will buoy tight oil
Opec's narrowing options
24 May 2017
An extension to the cuts may not help the group as much as it helps Texas
Opec, cornered
23 May 2017
The group has no real option but to roll over its deal on 25 May. Prices should rise in the second half of the year—and then the policy debate will start again