More oil, gas investment is industry’s ‘biggest challenge’ Shale growth masks lack of long-cycle investment US Gulf leased acreage is down 70% in 10 years Houston — Despite increasing renewable energy in recent years and an ongoing push to reduce greenhouse gas emissions, oil and natural gas are likely to remain a major part of the world’s energy mix for the next at least 15 years, veteran industry observer and John Hess, the long-time CEO of large oil company Hess Corp. said Monday. Barring a radical new technology breakthrough, oil and gas are likely to still comprise about half the energy mix in 2040, John Hess said during a panel on oil company strategies amid a changing industry at 2019 CERAWeek by IHS Market. But the upstream industry is not investing enough, and the volatility of […]