How the energy industry has evolved over time – and the four key components of its value chain
The energy industry has experienced some of the biggest changes in its entire history over the past decade – and the phrase “peak oil” proves that very point.
“Peak oil” used to refer to peak oil supply: a theoretical point in the future when we’d hit the maximum rate of production, and after which reserves would slowly start running dry. Some doomsayers (probably fans of the 1995 Kevin Costner movie Waterworld) even predicted miles-long queues at gas pumps, spiraling inflation, and global oil-based conflict… ⚔️
Fast forward to today, and “peak oil” is used in precisely the opposite sense: referring to peak oil demand. And that’s because two major trends have completely transformed the energy industry in the meantime.
First, the shale re
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With all this volatility, you may want to write that useful old adage down.