$10.3 Trillion to Meet Oil Demand?

The Oil-Producing Exporting Countries (OPEC) yesterday disclosed that a whopping $10.3 trillion investment would be required to meet the 15 million barrels per day (mb/d) projected increase in global oil demand from 94.5 mb/d in 2016 to 111.1 mb/d in 2040." From here. Odd that I couldn't find this information anywhere but in Nigerian media but still interesting.

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But aren’t all of the “smart” people saying oil demand will peak in the early 2020s due to EVs and alternative energy? 😂🤔 

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It merits reminding - aptly on the 4th of July - just how remarkable and important the oil patch is to the American economy.  Remarkable in that American's dominate the  world oil and gas markets, that independent and free men have figured out how to find oil & gas in remote and sometimes hostile locales (both harsh weather, geography and armed resistance), drill miles into the earth, transport and refine into gasoline and 100's of useful by-produces ... and delivers gasoline to a self-service pump at a price per gallon about the same as that of Coco-Cola.

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