Underinvestment in oil and gas in the past few years is seen as one of the main reasons for the current imbalance between supply and demand. G7 nations have acknowledged the need for increased investment in foreign gas projects. Big oil CEOs are calling for stability and consistency in government policies in order to boost investment. Despite repeated commitments to emission reduction and a switch to cleaner energy sources on the part of governments in Europe and North America, oil investment is about to start growing again. The clearest sign yet was the G7 meeting this week, where the members of the rich club negotiated a delay in the complete halt of investments in fossil fuels in third countries as their own countries grapple with energy shortages that have no […]

Posted in: G7