'Oil is over $90. This is a time in the cycle where questions are going to be asked' – Accenture boss - Upstream Online
'Oil is over $90. This is a time in the cycle where questions are going to be asked' - Accenture boss | Upstream Online
Oil and gas companies should focus on their strengths when addressing the energy transition rather than dabbling in “peripheral” low-carbon ventures, according to the head of energy at Accenture.
The oil and gas sector has been timid in its investment approach towards low-carbon and transition-aligned growth models, with emerging business models difficult to navigate, said David Rabley, Houston-based managing director and global lead of energy at the consultancy.
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.