Spencer Dale on the ‘New economics of oil’

“The emergence of shale oil, together with growing concerns about climate change and the environment, means that the beliefs that many of us have used in the past to analyse the oil market are out of date.  We need a new toolkit, a new set of principles, to guide our analysis of the oil market.” – Spencer Dale
BP’s group chief economist Spencer Dale has been explaining how the ‘shale revolution’ and concerns over climate change have changed the economics of the oil industry for good at the Society of Business Economists annual conference in London.….