The 38th annual Oil and Money Conference will be held this week in London. This is an event that will be hosted by the Energy Intelligence as well as the New York Times. As a result, over 500 senior executives in this sector will be attending the conference. This will include experts in the sector, strategists as well as financiers. Policy makers and other senior executives are expected to attend the meeting. One of the co-host, the New York Times, decided to speak to a number of key players in the industry to understand the challenges they are facing. This article offers an insight of some of the issues that these people discussed.
This was the first executive to talk about her concerns. For starters, she is the European Climate Foundation chief executive. At the same time, she serves the French Development Agency as the chairwoman of the board. She talks about an analysis that was done by a research agency known as Carbon Tracker Initiative. The report addresses the unburnable materials that dominate the oil and gas industry. The analysis notes that 60 to 80 percent of these materials fall under this classification.
This is another executive who addressed the New York Times. He said that the major issue affecting the oil industry is the increasing uncertainty in the oil industry. This, on the other hand, makes it difficult for companies that want to make major investments particularly in the area of deep-sea oil and gas. Shale gas and oil production on the supply side complicate the situation further. This has been made possible by the rising protectionism and economic nationalism by major players in the oil industry. Continued reliance on hydro-carbons is also complicating the issue combined with the recent trend where people have started accepting newer technologies especially electric vehicles. Therefore, predicting the future demand for energy is becoming a difficult task for many experts in the industry. At the moment, Charles Freeman is Projects International chief executive officer.
Lara Sidawi Moore
Energy Intelligence Group director and chief strategy officer also addressed the issue. According to Lara Moore, the single greatest challenge that was facing the oil industry is the geopolitical landscape uncertainty. She talked about the 1975 shah of Iran declaration that states that oil should be used for noble purposes only. Other executives who spoke about the issue include Mark Lewis, Otto Waterlander, and Isabel dos Santos.