Subject: Re: More OXY
An alternative view of energy demand from the IEA. On page 26 they are showing their projection of oil and gas demand peaking before 2030. By 2050, demand decreasing about 5% for both oil and gas. Yes demand continues but will be dropping. My investment thesis is that supply will drop quicker than demand drops which will push pricing higher. I am quite long on XOM.


https://iea.blob.core.windows....



The projection is based on current policies, not what is required to meet net zero by 2050. From the report in Section 1-1.

In the WEO-2023, the Stated Policies Scenario (STEPS) sees lower demand projections for
each of the fossil fuels than in the WEO-2022. This reflects current policy settings by
governments worldwide, a slight downward revision in the economic outlook, and the
continued ramifications of the 2022 global energy crisis. It also reflects longer term trends:
fossil fuel technologies have been losing market share to clean energy technologies across
various sectors in recent years, and in many cases fossil fuel-powered technologies have
already seen a peak in sales or additions.