Do we actually need to worry?
Looking at the current global development around oil and gas, the question came up whether we actually do need to
worry?
There have been some significant finds recently in the Caspian, Asia and Africa.
The market is said to be almost over supplied.
And the major growth-markets in Asia are doing their best to reduce their energy-intensity, so the growth of
energy-usage may not be as substantial as the projections are foreseeing.
There is also a very substantial growth in LNG projects providing gas and power to many areas.
But then we read that the permafrost is receding, endangering projects that literally stand on ice.
Or projects near to the coast that are in danger of being flooded by increasing sea-levels.
Or we read from 3 super-giants oil fields that suddenly produce much less and of which the depletion-rate is much
higher than expected.
Or the everlasting discussion on the resource-base is flaring up again, of which it is impossible to know who to
believe when is said who has how much oil (or gas).
Or we see preparations for military actions that may bring turmoil, not only to the oil and gas markets.
Or we see increasing freak weather-patterns.
It makes me think of a saying a wise lady once said: “Worry is like a rocking horse: it keeps you busy but brings you nowhere.”
Nevertheless it seems wise to start preparing for a very different world in the future.
Alexander
