In addition, hybrid and fuel cell engines are still a long way from making a big impact on the market and oil will continue to dominate transportation. The eventual slow decline in production outside the Middle East, counterbalanced by the growing environmental concerns, and the impact that might have on oil consumption. But I think that the impact of environmental concerns will be more keenly felt on coal than oil. Indeed, environmental pressure could in turn yield some benefits for the Middle East's hydrocarbon sector. The region is extremely well-placed to reap the benefits in terms of gas exports from growing environmental concerns.
Natural gas is a far cleaner fuel than oil and is therefore increasingly popular.
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