The Coming Oil Supply Crunch
Professor Paul Stevens, Senior Research Fellow, Energy, Environment and Development Programme, Chatham House.
Most conventional oil market forecasts are expecting the demand for oil to rise inexorably as we move towards 2030. However, there are growing concerns that the supply is unlikely to be available. This is nothing to do with scarcity of oil reserves or misplaced notions such as 'peak oil'. Rather it is the result of very significant structural changes in the international oil industry. These changes mean that international and national oil companies are not investing enough in the supply chain. Consequently, in the next five to ten years, oil markets are likely to face a serious supply crisis leading to an oil price shock which will have huge implications for global energy.
This event is strictly by invitation only.
To enable as open a debate as possible, this event will be held under the Chatham House Rule.
Read the Chatham House Report on the coming oil supply crunch here.