Even as geologists fiercely debate whether depleting oil fields can satiate intense demand for oil in the rising economies of Asia, the actions of the international energy industry may speak louder than words. Big oil is betting on once-derided unconventional energy sources, like this stranded natural gas in the Persian Gulf and remote tar deposits in Canada and Venezuela, to help meet surging demand for transportation fuel.
These different types of fuels may have clunky nicknames, like G.T.L. and L.N.G. But they draw big money. Mr. Attiyah rattled off a roster of ventures with Exxon Mobil, Royal Dutch/Shell, Chevron and Sasol of South Africa to produce a new form of diesel from natural gas and said they were expected to invest more than $14 billion in capital over the next five to seven years.
