The Scenario Panning Service starts with a comprehensive study that provides the framework for assessing the long-term outlook for oil and gas markets. The Guidebook is followed shortly thereafter by the SPS roundtables. The Guidebook's first section documents PIRA’s base-case view on long-term energy. It provides not only the quantitative outlook but the assumptions and thought process that goes behind it, including our views on economic growth, energy and environmental policy, technology, and producer strategies. The next sections critically examine the key assumptions that have the potential to fundamentally impact energy markets. It details those factors that could lead to an oil and gas price environment significantly lower than what we have put forward as our base case and those that could drive the world into a much higher long-term price environment — while assessing the probability of each. Based on that analysis, we define key "signposts" for clients to monitor to determine whether markets are tracking the base case or are showing signs of moving toward one of the alternative scenarios. These signposts, coupled with the analysis in the earlier sections, provide a framework against which news and market developments can be assessed in the quarterly reports and current news and analysis bulletins.