IEF Secretary General Joe McMonigle
Lack of oil and gas investment could be serious issue, warns IEF’s McMonigle
Secretary General believes linear and ideal forms of energy transition will be difficult to achieve especially with false narratives around peak oil demand
The International Energy Forum (IEF) has been warning that continued investment in new oil and gas will be required to avoid significant supply-demand imbalances, given the natural decline rates of existing production. The warning signs are getting bolder every day, IEF Secretary General Joe McMonigle points out in an interview with Petroleum Economist. In an August report titled Shaping a Living Roadmap for Energy Transition the IEF engaged with a wide spectrum of stakeholders around the world and these voices said that without new investment, existing oil and gas output could decline by more than 75% by 2050. It added that ensuring adequate oil and gas investments while recognizing that de
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
