What energy sources do you rely on in your life?
I see no popular support for a decline in our collective quality of life in the USA (or globally).
We all still need to heat and cool our homes. We require fuel for transportation in commercial, private business, and recreational travel. We need homes, jobs, food, medicines, manufacturing, clothing, etc.
Insights from Exxon’s Outlook through 2050:
“The world’s future energy needs will be determined by the number of people there are and the level of economic growth they enjoy. On both counts, the numbers are staggering. 2 billon more people and a global economy 2X the size.
“To support a growing population with rising living standards, we project the world will need to produce 15% more energy in 2050 than it does today.
“Even with an unprecedented rise in lower-emission options, oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050.
So despite the political aspirations of some, oil is not going away anytime soon, and energy demand will require that exploration and production become a higher priority just to maintain the standard of living we currently desire and enjoy.
Absent any startling new technological developments in energy production, one should expect to see no substantive evolutionary changes unless it is clear that the majority of voters prefer a decline in their quality of life and will tolerate a third-world lifestyle for themselves and their families.
Those that wish to stifle and punish oil companies need to ‘pull their heads out’ before it becomes too late to avoid the unintended consequences to our society that will result from the incompetency of this approach.
So I support the prediction of the Exxon forecast that oil and gas investments will not only continue, but will increase over time.
These GSPE “Expert Market” travails may just be a hint that I should be prepared to update my alias to ‘No Oil Gal 199’….
And as well as the active phone lines, the company is maintaining their website, complete with recent changes.
The flagrant truth is, Biden has his foot on the neck of GOM exploration, and it is not going to change until he is out of office. Expectations for future good news may come as a result from a new political outcome in November.
So at most, about six months to go the way I see it. Until then, I will continue to hold my @$k and be a moderator for this board.
Remembering an old saying “Patience is a virtue that attracts happiness and brings near that which is far”….
Mrs Smith
