Additionally, 32 percent think 2011 U.S. crude oil prices will peak between $121 and $130 per barrel. One-third of executives see even higher prices, with 17 percent of those predicting between $131 and $140 per barrel; nine percent between $141 and $150; and six percent expecting crude prices to exceed $151 per barrel before year end.
Among the survey’s key findings:
- 35 percent of the executives surveyed say their companies will increase R&D investment in alternative energy projects in 2011, up considerably from 15 percent in our 2010 survey
- Shale gas/oil (44 percent) is most frequently cited by executives as the alternative energy source that will win the most significant investment, with nearly two-thirds (62 percent) expecting shale oil and/or gas to continue to have a transformative impact on meeting the world’s energy needs
- Executives also cite solar (31 percent), wind (25 percent), clean coal technologies (17 percent), biodiesel (10 percent), and chemically stored electricity (batteries and fuel cells) (8 percent) as alternative energy sources that will see increased R&D investment