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IHS’s CERAWeek energy conference is a big event for the energy industry. This year saw executives, analysts, academics and government officials from across the globe fret over low prices and dwindling profits.
Energy is at a turning point, said chief researcher, global oil markets and energy scenarios at IHS Jim Burkhard. Several trends coming together have shaped this environment, he added, most importantly:
There is the potential for prices to rise or to fall even further, with Burkhard talking of a range of $30 per barrel of oil to $130 per barrel. He said that two important questions will decide which way energy prices move:
At the event, many speakers seemed to agree that fossil fuel prices will stay far cheaper than they have been for the past few years. Quoted by AP, BP CEO Bob Dudley predicted that prices would be “Lower for longer”.
For smaller UK businesses, lower energy bills are an advantage in an otherwise difficult time. But many UK businesses are unaware that they still are paying too much. SwitchMyBusiness.com offers a straightforward solution, cutting bills by up to 70%, with exclusive supplier rates. Thousands of businesses have already saved an average of £747 per switched meter with a call that takes less than five minutes.
For an impartial expert option on which energy supplier is best for your business, fill in the form at the top right of this page or call 0800 411 8830
(image courtesy of IHS)
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