The fight over territory is less about a scramble for resources in the South China Sea than it is about asserting sovereignty and hegemony in the region. Control over oil and gas reserves happens to be one component of that objective, but is not necessarily central to it.
A 10 percent share for electric vehicles in the U.S. alone would easily remove more than 1 millions barrels from crude oil demand. Consequently, the changes currently underway in the auto industry should be expected to dramatically impact the oil industry well before 2040.
Many integrated oil companies remain well positioned, but a price on carbon is unlikely to be welcomed in the current environment, where low oil prices have put the industry on its heels.
Increased domestic oil supply has bolstered American geopolitical clout, according to new research from Platts.
Much of the energy discussion surrounding the lifting of Iranian sanctions has focused on the effects on oil prices, but Iran’s gas potential could shake up global gas markets and provide robust economic benefits for the country.