Energy security

The Oil Industry Has Been Put on Notice

The world will depend on oil for decades to come. But 2015 may very well be remembered as the beginning of the end, with the rejection of Keystone and the investigation of Exxon as key markers on the timeline. Here’s a chart of oil forecasts from the International Energy Agency since 1994, from a Bloomberg New Energy Finance keynote presentation this week in Shanghai. Forecasts have been dropping, and the transformation of oil markets may be coming sooner than we think.