IEF Secretary General Joe McMonigle
Lack of oil and gas investment could be serious issue, warns IEF’s McMonigle
Secretary General believes linear and ideal forms of energy transition will be difficult to achieve especially with false narratives around peak oil demand
The International Energy Forum (IEF) has been warning that continued investment in new oil and gas will be required to avoid significant supply-demand imbalances, given the natural decline rates of existing production. The warning signs are getting bolder every day, IEF Secretary General Joe McMonigle points out in an interview with Petroleum Economist. In an August report titled Shaping a Living Roadmap for Energy Transition the IEF engaged with a wide spectrum of stakeholders around the world and these voices said that without new investment, existing oil and gas output could decline by more than 75% by 2050. It added that ensuring adequate oil and gas investments while recognizing that de
Also in this section
4 October 2024
Economic ill-health may be a wake-up call to the world about the Asian nation’s shifting oil buying status
3 October 2024
The formation’s gas-to-oil ratio is set to keep rising, but new markets and midstream plans mean infrastructure constraints may not be an issue
2 October 2024
Geopolitical strife embroiling Iran and political corruption in Venezuela suggest little near-term change to oil production from either of the sanctioned states
1 October 2024
Our look into Petroleum Economist's archives continues with October 1960 coverage of another key moment in the history of oil and gas: the founding of OPEC
