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Peak Oil and Shale Gas

The All Party Parliamentary Group on Peak Oil and Gas met on Tuesday and had some interesting and varied presentations on Shale Gas.

It does appear that Shale Gas will have some effect on the consequences of peak oil. It won't delay the oil peak itself - and in fact may make it earlier through price effects, but it will provide an alternative if not entirely substitutable supply.

Hence although initially the gas price is likely to detach from the oil price one would expect over time at least the West Texas Oil Price to be affected by gas. That will affect Brent.

It is not on the website yet, but should be soon.

The current situation does, however, have the effect of additional uncertainty in the renewables market.

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