 The Future of Oil: Implications for the Global C-Store Industry
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 The Future of Oil
High and increasing oil prices are the number one strategic challenge faced by the global convenience industry. High petrol prices are changing consumer purchasing behaviours more than any other economic factor and this is particularly true at the pump. High diesel prices and environmental concerns are simultaneously placing immense pressure on C-store supply chains. This report investigates the reasons underlying price increases, predicts the likely future trend for prices and examines implications for the global C-store industry.
The price of oil has reached $127 per barrel, up over 200% since January 2004. This has an immediate effect on prices at the pump. Is the current price a temporary blip? Does it imply progressively declining supplies of oil, with correspondingly higher prices in the future? Or are we moving towards a high point in a longer-term oil price cycle? If so, how soon can we expect to see more supply and lower prices? This report predicts what will happen to the oil price in the future and explains how this will affect the C-store industry.
This report is designed to clarify the factors which influence the oil price and to make it easier for forecasters and decision-makers to suggest the likely pattern of supply, demand and price over the next 5-10 years. It is based on detailed investigation into the worldwide pattern of the oil industry and study of its recent history.
Oil does not just flow out of the ground in a few fortunate countries. The oil industry is an industry like any other, where successful results are likely to be achieved by a combination of opportunities, know-how and investment. Our report examines the history and current status of the world oil production industry in some detail.
What factors currently restrict oil production in the OPEC countries? Will they apply equally in the future? What will be the future of oil in Alaska? In Russia? In Canada and Venezuela? High oil prices are currently making possible much heavier levels of investment than in the past. How soon will these bear fruit?
 After the oil price crisis of 1973-85, there was a dramatic reduction in world oil consumption, caused partly by less oil use being for purposes other than transportation. What scope exists for similar reductions in the future? How likely are they to occur and how soon?
A summary of key conclusions from this specially commissioned research will be presented at the Insight/NACS C-Store Supply Chain Collaboration day on 19th September as part of the Future of International Convenience event.
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 2008 International Retail Membership Application 12-07 (PDF - 1.1Mb)
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