Energy

The New Pricing Reality in Global Oil and Gas Markets

November 10, 2015  • Dave Grossman, Rapporteur; Claire Farley & Bill White, Co-Chairs

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Key Points

  • In a low price, high production global oil and gas market, is the U.S. a new global surge or swing market provider?
  • Strict environmental regulations and a profitable oil and gas industry are not incompatible.
  • Given current oil and gas prices and the expectation that prices will be low for quite a while, some small producers and service companies will not come back when production goes back up.
  • Continued innovation in oil and gas production is essential in this low-price environment, but industry often takes a long time to incorporate new techniques and technologies.
  • China has great influence over global supply and demand reactions and development prospects but cannot be viewed in isolation.

The 2015 Forum on Global Energy Economy and Security, “The New Pricing Reality in Global Oil and Gas Markets,” was co-chaired by Claire Farley, Member at Kohlberg Kravis Roberts & Company, and Bill White, Senior Advisor and Chairman of Lazard Houston and former Mayor of Houston. Topics discussed included the current and future drivers of global supply and demand for petroleum; specific regional changes and challenges; the global LNG market and market penetration for natural gas; environmental challenges that may impact oil and gas development; and the effect of new technology and data changing planning and investment.

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