The pace of technological evolution has been impressive; with costs on a per recovered barrel basis declining by a factor of 3 in just 3 years; it is this type of rapid technological improvement, led by drilling and completion technologies, that supports the contention that the cost curve of the E&P industry is inside that of the alternative energy sector.

The pace of technological evolution within the E&P sector has been impressive; with costs on a per unit of recovered energy declining as fast or faster than we have observed in either solar or wind; it is this type of rapid technological improvement that supports the contention that the cost curve of the E&P industry is inside that of the alternative energy sector, with profound implications for energy policy.

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