Turning up the heat on oil sector

What faces Shell, other refiners and industrialists around the world, however, is a future which will affect prices in a way that may well make the fluctuations of recent times seem small by comparison. With oil harder to find and harder to extract, its price will naturally rise. With carbon constraints, it will rise further. Don’t be surprised, too, if global fuel suppliers are categorised on a `green’ scale similar to that experienced in the aluminium industry some years ago.

The challenge for refiners is not just to produce cleaner fuel but to develop new fuels. With infrastructure presently struggling to meet demand, the need for new projects _ typically a billion dollars and more apiece _ need to be weighed carefully against their long-term sustainability.
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