Global Supply Shock Reignites Oil Exploration Boom

As the world grapples with the most serious oil and gas supply crunch in history, energy security has come front and center for every government on the planet. Some have touted electrification as a way of weathering the crisis and avoiding future ones. Realists, both in politics and industry, however, are focusing on what the oil and gas industry has been warning about for years: the need for more investment in exploration. “Production and recovery represent the most immediate path to incremental barrels, and as customers continue to…