OPINION: A major shortage of people and equipment is raising inflation and undermining a bounce back for oil and gas projects amid the current bout of strong crude prices.

The squeeze is also affecting the renewable energy sector and risks pitting the old and new power players against each other in competition for people and products.

A more positive scenario would come from the oil industry finding opportunities for working on both “black” and “green” projects in what we hope is an imminent post-Covid period.