Workers prepare to dismantle an oil rig in Gujarat, India
Letter from Singapore: Beware oil investment’s death rattle
High prices are no longer a guarantee for increased investment in oil projects despite the warnings of an energy crunch
Some energy professionals have been writing the obituary for oil investment for several years. A disdain for financing hydrocarbons across the banking world, punitive measures on energy companies that dare to make a profit, a cult-like pursuit of ESG and fears of stranded assets amid apocalyptic warnings of a collapse in oil demand have left the industry on life support. But what does not kill you only makes you stronger, right? The crux of the matter is the relationship between oil prices and investment. The two have understandably had a close correlation. Higher prices lead to greater investment, which then leads to a glut in projects, a crash in the price, a cull in investment and—once ag
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
