Future Oil Demand

[dan_s]

Per Exxon Mobil's CEO, Darren Woods:

> Oil demand will continue to grow in the coming decades even as the world strives to reduce greenhouse gas emissions to counter climate change
> Population growth and a desire for higher living standards will increase usage of petroleum-based fuels, especially for transportation
> There are over a billion people who currently have no access to electricity and another 3 billion who do not use modern cooking fuels.
> XOM forecasts the need for $11,000,000,000,000 in oil and gas investment to meet demand over the next 20 years.

My Take: Current oil price is not sufficient incentive to draw the capital needed to meet future oil demand.