Oil and gas will be needed during the transition to meet energy demand
Outlook 2022: A ‘just’ or ‘just in time’ transition for the UK North Sea?
For over 200 hundred years, the world has relied on fossil fuels for affordable, reliable energy. How does it get to an economy based on greener energy without triggering an adverse reaction?
This year saw dramatic manifestations in the UK of the delicate nature of energy supply and demand. A mere suspicion of potential fuel shortages resulted in panic buying of petrol. And a slew of energy suppliers went bust due to record wholesale gas prices juxtaposed with a government-mandated energy price cap. There are varying schools of thought on how to move forward as we go into 2022. One is to stop investment in fossil fuels immediately and live with the consequences, with any disruption justified to expedite green energy development as a matter of necessity. The other is a more conservative—or perhaps pragmatic, given the underlying market structures—approach, looking at the forecast
Also in this section
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
