The energy industry will see peak oil demand before it sees peak oil supply, according to Joseph Stanislaw. "Demand is a powerful force. China alone puts a floor on world oil demand." He spoke at Deloitte's oil and gas conference in Houston last month. Stanislaw is an independent senior advisor to Deloitte's energy and resources practice, and is the founder of The JAStanislaw Group. He foresees growth of 8% to 10% in Chinese oil demand, and nothing ahead that would change this scenario except a major world recession. As U.S. demand is growing as well, Congress should act to encourage conservation, greater energy efficiency in autos, and other ways to tamp demand growth, he added. "Energy efficiency is very important. It's like having thousands of termites in your house-you never see them until the wall collapses. Thousands of little changes in the way we use energy, which may seem insignificant, add up to make a very big difference." For more on this, see the January issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
Recommended Reading
CGG to Change Name to Viridien
2024-05-17 - The company’s new ticker symbol will be “VIRI” and listed on Euronext Paris, effective May 21.
Sector’s Appetite for Capital Remains Amid Consolidation Frenzy, Panelists Say
2024-05-17 - There’s still an appetite for capital in the oil and gas sector—companies just need to think creatively to find it, a number of panelists said during SUPER DUG in Fort Worth, Texas.
SilverBow Resets Shareholder Meeting After $2.1B Crescent Deal
2024-05-16 - SilverBow Resources said it will adjourn its May 21 shareholders’ meeting until May 29 following Crescent Energy’s agreement to buy the Eagle Ford operator.
Blue Racer Midstream Prices Senior Notes Offering
2024-05-15 - Net proceeds from the sale of senior notes will be used to pay off debt and other general corporate purposes.
Petrobras CEO Prates to Step Down
2024-05-15 - Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.