A world without crude oil is almost unthinkable. And yet, there are indications that such a transition is happening. OPEC is jockeying for market share. Russia is increasing production and US tight oil producers as well as their Canadian oil sands counterparts have found themselves priced out of the market. So what is going on? As humans, we tend to like to place things in neat little boxes. So we look at coal and natural gas and think electricity generation. We look at crude oil and think transportation sector. And all this is correct. But trends are emerging that are likely to turn this on its head. For instance, on shore wind and solar are gaining traction as viable energy production means. Costs are falling rapidly and Lazard now estimates that onshore wind is the cheapest provider of electricity on a levelized cost basis. Solar is not far behind […]