Dr. Faustus and the global energy conundrum

Most experts recognise that the age of conventional oil will fade during the next century. Fortunately, price and technology will allow for production of heavy oil, tar sands and shale oil, whose combined global reserves far exceed those of conventional oil.

Natural gas is a cleaner burning and more efficient method of producing power than oil. Contrary to some reports, natural gas resources worldwide are substantial. Better still, unconventional forms of natural gas, such as coal gas, shale gas and tight gas, are often found in regions where oil is not. This is good news for energy markets, which are overly dependent upon supply from the five countries that control nearly 75% of the world
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