BP is saying that oil demand is going to fall over next 30 years

[Harsh vardhan singh + 36]

BP says that the growth of oil demand is over. Oil consumption may never return to pre-Covid-19 crisis

They are the first to say that but still we see the highest level of investment in the Oil industry.

Are they trying to justify there invested value in renewables...??

Edited September 14, 2020 by Harsh vardhan singh

[BLA + 1,666]

2 hours ago, Harsh vardhan singh said:

BP says that the growth of oil demand is over.

Are they trying to justify there invested value in renewables...??

 

WOW !

BP says oil demand going down over next 30 years.

They're really going out on a limb .  Not.

 

Edited September 14, 2020 by BLA

[Tomasz + 1,608]

I think if you want to have this bigh  share of renewable energy, you must first make fundamental progress in energy storage.

Because it so happens that sometimes neither the sun shines nor the wind blows and electricity is needed at this very moment.

And perhaps most cars will be electric in the future. Only in this case they need to be charged with electricity and with such a mass of electric cars there will be a problem where to get electricity for the fleet of vehicles. 

 

As long as there is a trace amount of such cars, it is not a visible problem, but if there is to be a significant share of them in the future, where to get electricity for all these vehicles, if the energy network in many, even very developed countries of the West, is on the border of possibilities, perhaps for example in California, which is undoubtedly developed US state.

[footeab@yahoo.com + 2,131]

22 hours ago, Harsh vardhan singh said:

BP says that the growth of oil demand is over. Oil consumption may never return to pre-Covid-19 crisis

They are the first to say that but still we see the highest level of investment in the Oil industry.

Are they trying to justify there invested value in renewables...??

Lets see, not even a quarter of China is driving, nor a tiny bit of India is driving or most of Africa or SE ASIA which encompases roughly 65% of worlds population, but the fastest GROWING sector of population and we are to believe these countries will not wish to be more prosperous and catch up to the developed world?  Really?  These boffins at BP have been sniffing their own farts too long.  And no, electric is not cheaper.  Guess who will grab the cheapest option?  Developing nations except authoritarian oligarchies...