Innovation seen crucial to future energy supply

Escalating world oil demand and declining production rates will push the world toward unconventional forms of energy, including synthetic hydrocarbons, said speakers at an annual oil and gas conference hosted by Deloitte & Touche LLP, the US arm of Deloitte Touche Tohmatsu.

“It’s already too late to modify the energy mix for 2020,” said Pierre-René Bauquis, a retired petroleum engineer and an associate professor at the Institut Français du Pétrole near Paris. “Not only are we going to face a world oil peak, we are going to face a world gas peak 20 years later.”

OGJ