Statoil chief economist Eirik Waerness delivered the most reassuring oil-and-gas market perspective out of any of the many gloomy presentations at the Astrup Fearnley Offshore & Shipping Conference in Oslo this week.

For offshore, the severe “short-term pain” experienced now will snap back as “long-term gain” for the market, says Waerness, because of the wide mix of energy types that will be needed for decades to meet the world’s huge demand (see story right).

“Oil