“In a nutshell, Tallett, a chemical engineer by training, says the problem is insufficient equipment across the refining industry that would remove sulfur. There hasn’t been enough investment since the 2020 deadline was set to address the issue — either by refiners or shipping companies who can get kit fitted on their vessels to eliminate the pollutant, allowing them to burn otherwise non-compliant fuel.”
Martin Tallett, the consultant who warned two years ago that oil markets would be strained if tough standards for shipping fuel were imposed from 2020, says he’s even more concerned now.
What worries him is a demand surge so great that by 2020 the world will need 2.3 million barrels more oil a day than was being predicted when he did his previous research.
Read more: https://www.bloomberg.com/news/articles/2018-06-01/researcher-who-saw-stressed-2020-oil-market-is-more-worried-now