ABUNDANCE IN THE NEW WORLD ORDER

摘要

Even at $50/bbl, U.S. operators in Tier 1 fields can economically produce crude oil. Growth in demand is the fulcrum in the global energy picture today. Hydrocarbon abundance is displacing hydrocarbon scarcity, with profound geopolitical implications. Energy policy and investment for the past 40 years have been driven by the premise that either the world is running out of oil and natural gas, or that it is running out of the 'inexpensive' reserves, and accordingly we must prepare for ever-higher energy costs.