Advanced Fracking Caused the Disruption of Oil IndustryThe Straits TImes

The recent financial debacle of Swiber Holdings, an SGX-listed contractor for offshore oil and gas field development, underscores the deep weakness of the energy industry that has been well reported.

Less well-known is that Swiber, the oil and gas industry, and even the national economies of oil-exporting countries have been disrupted by a disruptive technology called advanced fracking that enables the extraction of shale hydrocarbons at “rock bottom” prices.

Using horizontal drilling and hydraulic fracturing techniques, advanced fracking unlocked plentiful new supply in the United States which, in tandem with expanded traditional sources (most notably in Libya and Iran) and more efficient renewable energy technologies, caused the global crude oil price to plummet from US$100 a barrel to the new normal of US$50.

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Charlie’s strong message on “disruptive future is not an extension of the yesterday we know” deserves our serious attention with immediate mindset shift and behaviourial change. Especially in our approach to educating ourselves and our next generations!

Teng Theng Dar
former CEO, Singapore Business Federation & Chairman, APEC Business Advisory Council (ABAC)

Charlie is an astute thinker, engaging writer and inspirational speaker on how rapidly advancing technologies will impact the economy, business and people today and in the future. I benefited both professionally and personally from his deep insights. Thank you, Charlie!

Xander Friedländer
Senior Vice President, Retail Insight
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