The $42 Trillion Oil Opportunity Hiding in Plain Sight

AI Summary

New advanced recovery technologies could unlock as much as 470 billion additional barrels of crude oil worldwide, potentially adding $42 trillion in value from existing oilfields. This development may trigger a second oil boom without the need for new exploratory drilling.

Without ever discovering another barrel, at today’s prices, there is more than $42 trillion in crude oil trapped in existing oilfields, awaiting the deployment of advanced new technology that makes the impossible possible. It’s enough to make for a second oil boom, no exploratory drilling needed.  Wood Mackenzie estimates advanced recovery technologies could unlock as much as 470 billion additional barrels worldwide, transforming enhanced recovery from a niche engineering discipline into one of the oil industry’s most important…