The world may soon face a major oil supply shortage as spare capacity continues to dwindle and reserve replacement rates fall The number of new oil and gas discoveries may have hit a 75-year low in 2021, highlighting a major issue for future production The ESG investing craze and activist investors have driven money away from the oil industry, which may add to the pain and cost of the energy transition The European gas crunch has been hogging headlines for months now, and with good reason – the continent is still struggling to secure enough energy for its winter needs. But there may be a worse crunch looming over the world, and that would be an oil crunch. The signs are there for everyone to see should they bother to look: OPEC’s spare capacity is dwindling, new discoveries are at historic lows, and banks are growing increasingly reluctant to […]