Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Murphy’s Law – “If anything can go wrong, it will” – seems headed into the heart of our oil system. As 2003 gets underway, a confluence of events is tightening oil markets to an unprecedented level and threatens to culminate in a day of reckoning for oil as this combination of long-term energy problems finally converges. Most of these problems are not new; they have simply been ignored for too long.
The past decade was marked by a series of sporadic oil booms, inevitably followed by recurrent and devastating oil busts. The latter were each preceded by a violent collapse in oil prices, which then caused new rounds of down-sizing and postponement of long-term plans for added production. With each new collapse, the industry was forced to limit the capital it spent on new assets. The entire petroleum infrastructure continued to age, with minimum new investments; and industry’s ability to make long-term decisions was undermined completely. These repeated busts have made prospects for actively recruiting the next generation of oil and gas executives to replace a very gray workforce quite remote. Capital for future energy projects is scarce – the risk factor is now deemed too high.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Houston, TX - November 4-5
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.