- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Oil consumption will exceed 2019 levels in 2022.
Posted on 4/7/21 at 9:28 am
Posted on 4/7/21 at 9:28 am
Death of oil isn't on the horizon. Prepare for +$100/bbl oil in the future due to lack of capital expenditures the past few years and govt applied restrictions to production.
EIA short term energy report: LINK
EIA short term energy report: LINK
quote:
EIA estimates that the world consumed 96.0 million b/d of petroleum and liquid fuels in March, an increase of 4.7 million b/d from March 2020. We forecast that global consumption of petroleum and liquid fuels will average 97.7 million b/d for all of 2021, which is up by 5.5 million b/d from 2020. We forecast that consumption will increase by 3.7 million b/d in 2022 to average 101.3 million b/d. We revised growth in global liquid fuels consumption in 2021 higher from last STEO. The higher forecast is primarily a result of higher global GDP growth forecasts from Oxford Economics, which increased 0.4 percentage points from the March STEO to 6.2% for 2021.
8
Posted on 4/7/21 at 9:33 am to C
Of course oil isn't going to die. 99% of objects people use today and how they interact form life are from petroleum.
Posted on 4/7/21 at 9:45 am to C
I hope you're right on the $100/bbl number but that article is projecting a decreased average price per barrel in 2022 down from $66 right now to an average of $60 next year.
Posted on 4/7/21 at 9:55 am to Mad Dawg 2020
the problem with investing in oil is that the general overall sentiment towards oil & petrochem is negative. every large cap firm tries to stay away from it due to volatility and the fact that the saudi's can flip the price on any given day not to mention the world's desire to get away from it because (fill in the blank)
Posted on 4/7/21 at 10:13 am to Mad Dawg 2020
They do a bad job of forecasting price. There is no way we continue to draw down supplies for 2 years without price increasing. The gap will be even larger from 2022-2025 without significant investment. Shale and Saudi can’t make up the gap enough.
Posted on 4/7/21 at 11:24 am to C
I'm finna ta eat.
Actually this is the last thing I want. What I would do for consistent 65-70 bbl.
Posted on 4/7/21 at 11:26 am to C
Seems to me that the Government is trying to price people out of combustion engine cars/trucks.
My outlook is that OPEC can always increase production, but the demand for this summer, which is always the heaviest demand in the yearly cycle, is going to keep sending prices higher.
My outlook is that OPEC can always increase production, but the demand for this summer, which is always the heaviest demand in the yearly cycle, is going to keep sending prices higher.
Posted on 4/7/21 at 11:32 am to C
$60 a barrel oil is really a sweet spot. Not so high that it’s prohibitive and still high enough for oil sector. Even with EV’s they have to generate energy for charging. That is largely done by nuclear, wind, solar or oil. Wind and solar have too many issues and environmentalists hate nuclear more than oil. It’s not going anywhere in the next 20 years, if then.
Posted on 4/7/21 at 12:37 pm to C
$50-60/barrel is plenty of money for everyone in the chain to make good profit.
Posted on 4/7/21 at 1:02 pm to go ta hell ole miss
quote:
$60 a barrel oil is really a sweet spot. Not so high that it’s prohibitive and still high enough for oil sector
I agree but at $60 for a long enough period of time you start to fund too many projects globally. So that leads to the boom/bust sector. There just hasn’t been enough investment from 2019 onward to replace natural depletion. Unless something materially changes with how fast you can scale up an additional 6 million bbl/day, we are going to be short in 2022 and beyond. This will drive prices up which will shrink demand to find a balance. Then you’ll have another bust in 2025-28 as investment goes up....
This post was edited on 4/7/21 at 1:05 pm
Posted on 4/7/21 at 1:28 pm to GREENHEAD22
quote:
Actually this is the last thing I want. What I would do for consistent 65-70 bbl.
Exactly. Runs up to $90-100/bbl lead to many poor decisions, financial stupidity and an eventual tumbling.
$65-75/bbl, let's keep that going for the next five years, nice and smooth.
Posted on 4/7/21 at 1:30 pm to C
Let me know when BP gets back to the mid $30s
Posted on 4/7/21 at 1:33 pm to TexasTiger34
Shell wants to be 100% out of oil by 2050.
Posted on 4/7/21 at 2:50 pm to GrizzlyAlloy
No they don’t. They’re saying that to placate current sentiments, but they aren’t getting out by ‘50.
Posted on 4/7/21 at 6:00 pm to GrizzlyAlloy
quote:
Shell wants to be 100% out of oil by 2050.
Good I'll be retired for 20 years by then.
Posted on 4/7/21 at 8:17 pm to GrizzlyAlloy
quote:
Shell wants to be 100% out of oil by 2050.
They’ll at least be NET zero emissions by 2030 which will be huge for investors wanting those good ESG ratings.
Shell appears ready to have carbon capture and sequestration as part of their portfolio.
Posted on 4/7/21 at 8:39 pm to ragincajun03
Unless we embrace nuclear and start building right now, there is zero path out of growing oil consumption through 2050.
Unless thanos snaps half of us out of existence.
Unless thanos snaps half of us out of existence.
Posted on 4/7/21 at 8:56 pm to C
As I sit here offshore in the GOM I can’t help but smile.
Posted on 4/7/21 at 9:40 pm to jimjackandjose
quote:
Unless we embrace nuclear and start building right now, there is zero path out of growing oil consumption through 2050.
Unless thanos snaps half of us out of existence.
That's the practical reality, but it doesn't fit the Utopian's romantic vision. I did have some fun buying when the price of a barrel of oil was 0$.
5th generation meltdown proof reactors can provide the juice and hydrogen. Super heated water takes a lot less electric power to split into hydrogen and oxygen making electrolysis a lot more efficient.
That's what should happen, but I think we will see a few "green energy" disasters first.
This post was edited on 4/7/21 at 9:48 pm
Posted on 4/7/21 at 10:31 pm to Auburn1968
Love a good windmill meltdown
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News