Stephen Williams and Sachin Oza discussed the degree of transformation the advent of unconventional oil recovery metthods have made on the Oil Industry in the years since the so called Peak Oil event over a decade ago. This has meant that countries such as the US are now less reliant on Middle East production, something which has caused relative stability as far as supply is concerned, and could have meant that prices are lower than they otherwise would have been.
Looking ahead, they argued that even if the deadline for non fossil fuel autos is brought forward from 2040, this should still mean that demand for Gas remains robust as it could be seen as a transitional Green Commodity. This may mean that Oil & Gas producers do not face the cliff edge fundamentally that some may feel they are heading for should the Green Lobby accelerate its efforts to address Climate Change.