Woolfsmck 2,763 Posted December 24, 2017 Share Posted December 24, 2017 I read that the current growth pace of renewables that peak demand for oil will happen in 10 to 15 years. So when demand for oil actually drops, the price and profitablity will diminish. So the slowdown in new oil discoveries might be a planned approach to protect the oil market in the future. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,844 Posted December 24, 2017 Author Share Posted December 24, 2017 5 minutes ago, Woolfsmck said: I read that the current growth pace of renewables that peak demand for oil will happen in 10 to 15 years. So when demand for oil actually drops, the price and profitablity will diminish. So the slowdown in new oil discoveries might be a planned approach to protect the oil market in the future. The projections vary... could be as early as 2025 (in 8 years) or as late as 2040 (22 years) but most of the time it ends up being somewhere in the middle so 10-15 sounds likely i feel like by then we will struggle to produce enough anyway and falling demand will also be accompanied ny falling productiom WW so... maybe oil industry isnt doomed? Link to post Share on other sites More sharing options...
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