Trust Challenge Facing the Global Oil & Gas Industry
The enormous economic contribution of the oil and gas industry to many national economies makes its future of critical importance to the global community. Yet despite the instrumental role oil and gas plays in economic transformation and mobility, the industry itself is facing some of the most profound challenges in its history. Oil and gas is likely to be a major source of energy for decades to come. But for the industry to be seen as a partner in energy solutions and economic prosperity – rather than a source of environmental damage and driver of sectarian conflict – it will need to address the serious trust challenges created by the failures of the worst among its ranks.
The enormous economic contribution of the oil and gas industry to many national economies makes its future of critical importance to the global community. Yet despite the instrumental role oil and gas plays in economic transformation and mobility, the industry itself is facing some of the most profound challenges in its history. Oil and gas is likely to be a major source of energy for decades to come. But for the industry to be seen as a partner in energy solutions and economic prosperity – rather than a source of environmental damage and driver of sectarian conflict – it will need to address the serious trust challenges created by the failures of the worst among its ranks.