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Posted by: John Carey on December 10, 2008
What do oil and gas executives see in their future? In many cases, a switch from oil and gas to alternative forms of energy.
That’s one of the findings from a new survey by Deloitte. “Most notably, “Half of the respondents we interviewed — 53 percent — believe that the U.S. could run out of reasonably priced oil within the next 25 years,” observes Gary Adams, vice chairman for oil and gas at Deloitte LLP.
In addition, three quarters of the executives surveyed thought it’s appropriate for the country to use something other than fossil fuels to power the nation’s cars and trucks. And more than half (56%) thought that providing new fuels was an “appropriate” goal for their companies.
The survey helps to highlight some of the differences that are already visible in the oil industry. Some companies, like Shell, are investing in biofuels, solar, and wind. Others, like ExxonMobil, vow to stick to the oil and gas business.
BusinessWeek correspondents John Carey and Mark Scott, cover the green scene, keeping on top of the business aspects of energy, the environment and climate change, as well as the technologies, policies, markets and people that are shaping how the earth's resources will be used in the century ahead.