What industry leaders expect in 2011

Oil industry leaders from the US discuss some of the challenges and their solutions for improving the prospects of the industry in 2011. The US Department of Energy's Energy Information Agency estimates that the country's oil and gas consumption will rise over the next 25 years, retaining its approximate 60% share of global energy demand through 2035. Supplying the oil and gas to meet that demand will create a number of challenges for the industry. These challenges can be categorized based on the four types of resources that will need to be developed to meet that demand. Some of the other topics that have been addressed by the industry leaders, include the evolution of the developing shale gas sector into liquids-rich plays and international arenas, implications of the Republican takeover of the US House of Representatives, and the technology developments that will drive the exploration and production of increasingly challenging reserves.