Abstract
The head of one of the world's biggest oil companies said in February that the era of oil dominating the global energy market is creaking to a close. Future energy needs will be met by a mix of fuels that are less harmful to the environment, he said, and he called for the energy and automobile industries to collaborate on solutions to reduce emissions.“We've embarked on the beginning of the last days of the age of oil,” ARCO Chairman Mike Bowlin said at a Cambridge Energy Research Associates conference in Houston, Texas, where he also described how ARCO is moving toward a new energy model. “Our challenge is not merely to survive today's low prices, but to plan for a future in which hydrocarbons are just one of a wide variety of clean fuels that will build the global economy of the 21st century”.
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