May 2021

Columns

Executive Viewpoint: It was the best of times

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…”. Fortunately, this opening line from A Tale of Two Cities does not often present itself as an appropriate analogy to the oil and gas industry. Yet, here we are.

Howell, A., Byfield, R., KBC, a Yokogawa Company

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…”. Fortunately, this opening line from A Tale of Two Cities does not often present itself as an appropriate analogy to the oil and gas industry. Yet, here we are. The industry is experiencing a perfect storm of events, and they are all moving in different directions. Within all these conflicting circumstances, there is both opportunity and risk—the best of times for some and the worst of times for others. Enabled by fracking, horizontal drilling and many other, lesser-known technologies, a shift in global oil and gas supply chains has taken place in recent, pre-COVID times in the U

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