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
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
