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Oil Price Will Be As Low As $10 A Barrel In 2025
#1
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The oil industry must brace for five energy “tsunamis” that threaten to drag prices as low as $10 a barrel in less than a decade, according to Engie SA’s innovation chief.

https://www.bloomberg.com/news/articles/...engie-says
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#2
https://www.bloomberg.com/news/articles/...engie-says
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#3
“Even if oil demand continues to climb until 2025, its price could drop to $10 if markets anticipate a significant fall in demand,” Lepercq said at his office near Paris. Crude last slumped to that level in 1998.
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#4
“Solar, battery storage, electrical and hydrogen vehicles, and connected devices are in a ‘J’ curve,” he said. “Hydrogen is the missing link in a 100 percent renewable-energy system, but technological bricks already exist.”
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#5
The former French gas monopoly, which is now the world’s largest non-state power producer following a decade of acquisitions, is investing in renewables while selling coal-fired plants and exploration assets to shield itself from commodity-price swings. It plans to spend 1.5 billion euros ($1.57 billion) by 2018 on technologies including grid-scale battery storage, hydrogen output, “mini-grids” that serve small clusters of homes, and smart buildings that link up heating, lighting and IT systems to save energy and cut costs.
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#6
‘Massive Value’

“In the months to come, we expect to announce the first major steps of projects, investments, partnerships and potential acquisitions” in these areas, said Lepercq, a former banker and entrepreneur who in 2006 co-founded Solairedirect, a solar developer that was bought by Engie for about 200 million euros in 2015. “We’re talking about technology platforms in which massive value can be created from comparatively small investment.”
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#7
The cost of solar power will probably drop below $10 a megawatt-hour before 2025 in the world’s sunniest places, according to Lepercq. In September, Engie bought a stake in Heliatek, a German startup developing photovoltaic films that slot on to building facades. It also acquired an interest in Symbio FCell, a French manufacturer of fuel cells that convert hydrogen into electricity to run vehicles.
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#8
“As carmakers offer more electrical vehicles with a range exceeding 500 kilometers, charging stations being progressively deployed and more cities banning gasoline and diesel cars, a shift will progressively take place,” Lepercq said.
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#9
The number of battery and plug-in vehicles around the world has surged in recent years to top 1 million, according to the International Energy Agency.
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#10
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