I had the opportunity to join a great panel discussion at the Gastech Conference in Tokyo where we debated the opportunities for delivering greater efficiency and cost savings through improved innovation and technology.
In my view, even though cost remains a crucial factor in the current economic climate, we have good reason to look optimistically ahead at the future.
I believe that $50/bbl is a sustainable price for this industry
First off, existing new technology makes it hard to stay pessimistic. Secondly I believe that $50/bbl is a sustainable price for this industry.
I’m saying this not only because more than ten years ago this price level was considered high, but also because this presents great opportunities to make our industry leaner, more efficient and more profitable.
For me, this is best exemplified through some of GE’s recent innovations like the Brilliant Factory, and our new generation gas turbines, LM9000 and NovaLT12.
Do you agree?