Publications: The Petroleum Economics Monthly

Energy: A Gathering Storm II (July/August 2015)


We have combined the July and August issues of The Petroleum Economics Monthly into a single report. Its title, “Energy: A Gathering Storm II,” is based on a 2004 paper by this author entitled “Energy: A Gathering Storm?” The 2004 analysis cautioned that higher prices were likely and that the higher oil prices would depress global economic activity. As this PEM discusses, another large oil price hike seems very likely. As explained here, though, its consequences could be much different from prior cycles. There will be less investment in fossil-fuel development and production and more intensive, coordinated efforts to phase out fossil fuels. Indeed, this price increase could hasten the fossil-fuel industry’s ultimate sunset. 


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