New York Energy Week presents a unique opportunity for governments, businesses, investors, and other stakeholders to engage in a rich dialogue over the rapidly evolving trends within the energy industry. And possibly nowhere else are these changing trends being felt more than in the oil and gas industries.
The uncertainty within the oil and gas markets is at unprecedented levels. After 40 years of a steady rise in oil prices, we’ve entered a new era of cheap oil and gas. Fracking and new technologies to extract oil have increased supply and sent prices plummeting, with many analysts and journalists predicting that this trend is likely to stick around for a while.
Political pressure and calls to reverse the trends of a warming climate have contributed to the difficulties that these industries face. An article in The Guardian reported that phasing out coal, oil, and gas extraction on just US federal land would reduce greenhouse gas emissions by 100m tons by 2030. About a quarter of all fossil fuel extraction occurs on land owned by the federal government. Similar reports, along with the looming regulations thrust upon the industry by the Obama Administration’s Clean Power Plan are sending global signals about the industry’s future.
In 2014, we hosted NYEW Breakfast Series: Natural Gas Markets, recognizing the future trends in this industry and how the Northeastern United States plays a central role in new emerging oil and gas realities. This year, the CME Group Inc. (Chicago Mercantile Exchange & Chicago Board of Trade), the world’s leading and most diverse derivatives marketplace, will again be hosting the NYEW Oil & Gas Breakfast. So join us on June 15 at 8am for a conversation on how regulators, investors, governments, and other stakeholders are managing these changing trends and adopting their forecasting and technology to account for these variabilities.
