12 Oct '12, 2pm
Drumbeat: October 12, 2012
Peak oil? That’s so yesterday. U.S. energy independence? No longer unthinkable. Natural gas glut? Don’t bet on it any more. Railway tankers? Add them to your watch list. Who said the energy business is boring? Long-standing tenets and assumptions are being ripped up faster than an application for a pipeline through a nature reserve. New business dynamics are popping up faster than a rig in a shale play. Mashed together, the collective influence of technology, price signals, government policies, geopolitics, demographics and social licence are challenging the status quo of our energy complex with a vigour not witnessed since the post-1970s oil price shocks. It’s easy and exciting to embrace the new, positively-sloped energy mega-trends taking shape – light tight oil production, oil on rails, gas-fired power generation, and LED light bulbs, to name just a few. On the other h...