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Investment and endowment funds discouraged from owning oil investments.

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With money from where? Investors and lenders provide capital to grow the business, not sustain it. The first is the most likely. This means assets must be kept in good working order.

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  6. Those demanding the industry do more with less better think this through and appreciate not only will the oilpatch require capital to sustain demand-driven growth through reserve replacement, but to keep everything in good working order to operate safely and efficiently. The current direction of taxes and regulations do not anticipate this outcome. The industry must rely on common sense, which outside of industry and capital providers, is in increasingly short supply. The other option is worse. Technology and regulations combine to provide economically viable alternatives to petroleum.

    Now the industry must face decommissioning liabilities for assets no longer commercially profitable to operate. Who is going to finance a company or industry going out of business? The numbers are big. Take one example, Suncor Energy Inc. But of course, Suncor is a serious company with no immediate plans for obsolescence. This stays about the same through As was proven in the recent Redwater Energy Corp. There is nothing wrong with Suncor.

    It is a responsible company.

    A Sobering Look At The Future Of Oil

    But there is something terribly wrong with how the world regards the future of the oil business. Whether the world decides to stay in or get out of the oil business; governments, regulators and opponents must learn to read an income statement and balance sheet before dispensing any further advice on how the petroleum industry conducts itself. This industry supplied the energy mankind demanded for generations and paid as much in taxes and royalties as governments could extract. Often governments took too much then had to give some back to keep the lights on.

    Now it is being asked to do much more with much less and perhaps, if the greens get their way, nothing at all. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. Oil And Gas Lease Sale. What does the future hold? Trump's Twitter sledgehammer is right on cue, again.

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    The United States has become…. He has… More Info. As for actually running out of oil, that issue has run its course. At least for now. The fork in the road has two options, neither attractive. But from a much different perspective. By David Yager for Oilprice. The most vital industry information will soon be right at your fingertips.

    Join the world's largest community dedicated entirely to energy professionals and enthusiasts. Mark Urbanski on May 08 said:. Yes, everyone agrees that the old oil line under the great lakes is a bad idea already. Take a look at what is getting poured into te Great Lakes by each State. You should focus on what is now a reality and what is occuring now to the Great Lakes.

    A oil leakage is the least of the concerns right now in the Great Lakes. Stop what is going on now!! Amvet on May 09 said:.

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    As I unterstand it peak oil did occur. It was covered up by changing the definition of oil.

    Sol de Janeiro Ipanema Sunset Glow Oil Review

    Guy Lane on May 09 said:. Hundreds of words on the future of oil, a not a single one of them was climate. Not exactly sure what the author is arguing, except maybe that governments should back off trying to drain more resources from the oil and gas industry.

    Oil industry's sunset years: low prices, weak demand, poor outlook

    It seems to me that the industry is caught between a rock and a hard place: It's an interesting situation and, in fact, peak oil analyst Gail Tverberg argues that a fall in prices is what should be expected as we reach the end of oil, not an increase. Britty on May 15 said:. We have to stop the eco-terrorists propaganda. Oil and Gas Journal reported Audun Martinsen, Rystad vice-president of oil field service research, as saying that the North American companies were again recruiting more staff.


    However, outside the oil industry, commentators are not so sure. The constant expansion of the oil majors for more than a century has gone into reverse. The industry is suffering from competition from biofuels on one side and electric vehicles on the other. Motor manufacturers have been forced by regulation to make vehicles more efficient, and expanding markets such as India and China are moving fast to cut pollution.

    China in particular is leading the way on electric and hybrid vehicles, and many commentators believe the sector is set for rapid growth over the coming decade. The empire is bound to shrink, taking the price of shares down with it. According to the International Business Times , the company may be in a "death spiral".

    Quoting the IEEFA report, it says that while Texas-based Exxon Mobil may be considered the world's largest oil company, there are danger signs about its future. The company was established in after a merger of separate companies, Exxon and Mobil. The New York Attorney General, Eric Schneiderman, and the US Securities and Exchange Commission have both opened investigations into ExxonMobil's accounting practices and how the company factored environmental change into its financial reporting.

    We work hard - with a small budget and tiny editorial team - to bring you the wide-ranging, independent journalism we know you value and enjoy, but we need your help. Please make a donation to support The Ecologist platform. With oil prices remaining low, the world's oil industry is facing bleak years ahead, writes Paul Brown.