Originally Posted by
Eric Nuttal in the Financial Post
Peak demand? More like a supply crisis propelling oil to US$100
OPEC will soon exhaust its spare capacity and U.S shale lacks the ability to significantly grow in the years ahead
The world stands on the cusp of an oil supply crisis. Years of insufficient investment in offshore mega-projects combined with the end of U.S. shale hyper growth and a recent shift by global supermajors to preferentially invest in alternative energy over traditional hydrocarbons have resulted in an oil industry that lacks the ability to meaningfully grow its production in the years ahead.