The stone age did not end for a lack of stones. It’s an old adage now but it’s no less true. Old oil relied on a never-ending bull market. Now there is a feeling that the party is going to end. I beg to differ as the world will need reliable energy for a long, long time to come and those companies that allow their oil pedigree to atrophy will eventually pay the price. Because there will be others that will pick up the slack, develop new resources and the world will pay the price through higher prices which will eventually put gasoline in the fires of those that have learned to be mean and lean in the meantime. Exciting times but no end for oil at all.
Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP to conclude some of its resources “won’t see the light of day,” according to its head of strategy.