Locator: 49412B.
Tag: Chevron CVX
Energy projections: I really have no idea what this means. Link here.
AI prompt:
An analyst wrote:
"Devastatingly to sentiment, the IEA told us for nearly 5 years that peak oil demand was imminent.Today, they admit under their base scenario that oil demand will grow to at least 2050!Too late/damage done: "the fear of peak demand is leading to the reality of peak supply."
What does he mean that "peak demand is leading to the reality of peak supply"? Does it simply mean that the oil companies can't keep up to increasing demand? ChatGPT's reply was interesting, as always.
In short:
- “Peak demand” was supposed to protect us from oil scarcity.Instead, fear of it caused underinvestment, which now risks actual scarcity.
- That’s why the analyst calls it “devastating to sentiment”:
- markets and policymakers relied on a forecast that discouraged production —and now they face the opposite problem.
- oil companies can’t keep up with increasing demand.
- But more precisely, they won’t be able to because earlier policy and investor pressure — based on the belief in “peak demand” — discouraged the very investments needed to sustain future supply.
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Back to the Bakken
WTI: $59.13. Link here.
New wells reporting: link here.
RBN Energy: link here.
