Full Title: Carbon Supply Cost Curves – Evaluating Financial Risk to Oil Capital Expenditures
Author(s): N/A
Publisher(s): Carbon Tracker Initiative
Publication Date: 5/2014

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Given that over the next decade private-sector oil companies will invest $1.1 trillion in new upstream capex, controlling carbon asset risk ought to be a priority for stewards of capital.  With falling returns and rising capital intensity (capex/barrel of production capacity), investors should scrutinize company investment plans more thoroughly than they have in the past.