The world’s unrelenting thirst for energy is a story as old as the industrial revolution itself. From the coal-fired factories of 19th-century Britain to the modern semiconductor fabs of Silicon Valley, Calif., access to abundant and affordable energy has been the catalyst for economic progress throughout the ages.

We stand on the precipice of a new era of urbanization and growth, primarily driven by the rapid development of emerging economies, and global energy demand shows no signs of abating. Quite the contrary — the Institute for Energy Research forecasts that worldwide energy consumption will surge more than 34 percent by 2050, fueled by the insatiable appetites of an increasingly industrialized world.

Institutional investors will be well served by gaining an understanding of the vital role oil and gas will play in fueling economic development and improved living standards for decades to come. While the risks of climate change and the need for environmental st