Khalid Al-Falih, chief executive officer of Saudi Arabian Oil Co. (Saudi Aramco), left, and Ryan Lance, chairman and chief executive officer of ConocoPhillips, speak in the audience during the 2013 IHS CERAWeek conference in Houston, Texas, U.S., on Tuesday, March 5, 2013. The growth in new oil production has overturned “doomsday scenarios” about the decline of the petroleum industry, said Al-Falih during the keynote speech. Photographer: F. Carter Smith/Bloomberg via Getty Images