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OEF Rapid Review

Jonathan Chanis, vice president of policy at Securing America’s Future Energy considers that an oil supply shortage and price spikes of $80-$100 a barrel could hit the global oil market by the 2020s if producers do not fund major projects soon. He adds that rising US tight oil supply will not be able to stop this trend. Investment declined 40% in 2015 and 2016 and has been flat so far this year, he said. The number of megaprojects approved in the next year to two years will determine if that shortage arrives.
LINK TO THE SOURCE ARTICLE:
Megaprojects Needed Now To Prevent Oil Shortage In 2020s

 


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