Hi Arjun - Does your 2030 N.A. export "shot" of 10MM/day factor in a 1-2% global oil demand growth rate (meaning...a decent portion is simply offsetting growing demand over the next 7 yrs)?
Derren, that is correct. I have a base case oil demand forecast of 110 mn b/d for 2030 vs about 100 mn b/d today, so just over 1%. I will say the +10 mn b/d incorporates 1-2 mn b/d of lower US oil demand by 2030 than my base case...I would say the risk is that portion doesn't come true.
Thanks Arjun for a great commentary. I agree that after years of demonizing the oil and gas industry, many have now connected energy independence to national security and food security in a way that had not previously been understood. Thank you for your insights. Keep them up.
Hi Arjun - Does your 2030 N.A. export "shot" of 10MM/day factor in a 1-2% global oil demand growth rate (meaning...a decent portion is simply offsetting growing demand over the next 7 yrs)?
Derren, that is correct. I have a base case oil demand forecast of 110 mn b/d for 2030 vs about 100 mn b/d today, so just over 1%. I will say the +10 mn b/d incorporates 1-2 mn b/d of lower US oil demand by 2030 than my base case...I would say the risk is that portion doesn't come true.
Thanks Arjun for a great commentary. I agree that after years of demonizing the oil and gas industry, many have now connected energy independence to national security and food security in a way that had not previously been understood. Thank you for your insights. Keep them up.
Thank you Joan. Very much appreciate your comments!