Time to prioritise gas?
With peak oil approaching, the industry's thoughts are turning increasingly to gas investments
The respective merits of oil and gas investments have been a matter of debate for some time. At the moment, both offer viable long-term opportunities. But with peak oil fast approaching, the industry's focus does seem to be shifting steadily towards gas. All the high-profile forecasters, from the International Energy Agency to BP, work on the assumption that gas will remain a mainstay fuel for the power and heating sectors over the next three decades, in support of intermittent renewable energy sources. Meanwhile, the future of oil demand is more uncertain, dependent to an extent on the uptake of electric vehicles and other alternative transport fuels. How those forecasts are affecting indus
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