THE WOODLANDS, Texas — Over the next 20 years or so, oil and natural gas will lose top ranking as the world’s most affordable energy sources, according to a survey of energy executives released Wednesday.
Deeper wells in more inhospitable places, both political and geological, have altered presumptions of doing business in the oil patch.
Nearly three of every four executives and managers surveyed last month by Deloitte LLP said oil and gas are the cheapest available energy sources for now, though only 23 percent believe that will be the case in 25 years.
Deloitte, which conducted the wide-ranging survey of 52 industry professionals via telephone, released the results Wednesday at its annual oil and gas conference in suburban Houston. Most of the executives work for companies with annual revenues of more than $100 million.
The sampling revealed a growing concern about the sustainability of oil and natural gas in the coming years. Future sources of fossil fuels, the cost of producing them and the price consumers will pay are some of the biggest uncertainties facing the industry.
