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Should Future Drillers Fear Demand Destruction?

Posted December 01, 2015 12:00 AM by Engineering360 eNewsletter

Both the International Energy Agency and the U.S. Energy Information Administration expect fossil fuel use to grow by 50% over the next 30 years. But what if these numbers are vastly overstated? The Carbon Tracker Initiative invites a closer look at the logic behind these demand predictions, focusing on nine assumptions that could turn out to be less reliable than history would indicate. The Initiative suggests that population growth, carbon intensity, oil demand, GDP growth, and several other factors will create demand destruction (watch) that threatens to do the same to the oil and gas industry.


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Guru
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#1

Re: Should Future Drillers Fear Demand Destruction?

12/01/2015 6:44 AM

Fear? No.

Plan for it? Certainly.

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Guru

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Re: Should Future Drillers Fear Demand Destruction?

12/02/2015 12:31 PM

I read a statement one time that said, "many industries are one technology shift away from extinction". Kodak missed it with film and digital pictures, carbeurators - fuel injection, buggies - cars, etc. The list is long. Everyone has to have forward looking vision and be placing themselves in a position to move with the changes as they take place. Or, be innovative and be the ones who make the technology shifts happen. Elon Musk with cars, space travel, battery and solar, is a good example of that kind of thinking. Also, Jeff Bezos, Steve Jobs, etc.

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