Oil and the Future - A lunchtime address by John Hess

This is an abridged version of Hess’ remarks from October 21 at the Oil & Money Conference. For the full version, see item #18 in the October 22 issue of the Peak Oil News. Our industry is at a crossroads. In the past few years, oil supply has struggled to keep pace with demand. But the financial crisis has reduced demand by 2 million barrels per day, creating excess inventories and lower prices. But once economic growth