Companies: HTG   

‘Renewables are the dot.coms of the resources industry.’ That is the trenchant view of Dennis Proctor, chief executive of oil and gas services group Hunting. He argues many forms of alternative energy provision involve significantly more CO2 than the conventional processes they replace.

Proctor warns that biofuel production is already taking so much corn that Mexico faces a shortage of tequila. Insisting that the world has not yet developed a credible alternative to carbon-based energy, which the aspiring populations of fast growing Asian economies will demand to underwrite their lifestyles, he warns ‘there is no Plan B’.

Procter (right), who once had a Nigerian policeman’s pistol at his head and prefers to trade in first world economies such as Canada, says there is no long-term alternative apart from nuclear power. Needless to say, for the foreseeable future, this should be good news for companies like Hunting.

Hunting	LSE	£507.41m	384.75p	-28.25p
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