Indeed.
If you look at sources such as the International Energy Agency or other third party sources that look at global energy demand, it is growing dramatically, thanks to changes in the economies in India and China and some of the other populated nations. As those economies become more active and people move more into the middle class, most of the demand over the shorter term is going to continue to be met by oil and natural gas. There are huge opportunities for natural gas in particular. Oil grows as well.
At the same time, it is an “all of the above” approach. We need renewables to essentially double between now and the year 2025 or 2030. The oil and gas industry knows that.
It is having the right fuel in the right place at the right time. We have to be very conscious of the cost both to taxpayers in terms of subsidies as well as to industries, if you end up increasing their input costs for such things as electricity or other forms of power.