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Pretty soon….Big Oil could be Big Gas

11 Nov

The major oil companies are increasingly betting their futures on natural gas, with older oil fields producing less crude and newer ones either hard to reach or controlled by unfriendly nations.

Cover from the May 1979 Time Magazine

They are focusing more than ever on natural gas because it burns cleaner than oil and is gaining traction as a fuel for transportation.  Gas is becoming more attractive to the oil companies because it’s more accessible. While OPEC controls most of the world’s oil reserves, it controls less than half of the natural gas reserves

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Read the 1979 Time Magazine article here

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Posted by on November 11, 2010 in Oil, Traditional Energy

 

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