Despite Silicon Valley's professed support for clean power, it views the energy industry as a huge opportunity
Markit, a research firm which organised the shindig, lined up America’s energy secretary, the chief executives ofand Chevron , and other luminaries. Among the dark suits was an open-collared newcomer: Andy Jassy, head of Amazon Web Services. Speaking to a vast ballroom, he extolled the cloud-computing giant’s virtues of moving quickly and learning from failure. Mr Jassy was there not just to offer management advice to what were once the world’s most valuable companies.
That is changing. Abundant shale oil has made the hunt for reserves less urgent than the need to protect profits. Shale also highlights the utility of new analytics, says Paul Goydan of, a consultancy, as data gush from thousands of wells studded through Texas, North Dakota and other rich fields. Falling costs of sensors, storage and computing power have made digital investments even more attractive.
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