Forbes Magazine 13 Feb 2022 No Signs Oil Demand Is In Structural Decline Americans are understandably blaming the Biden administration for surging energy prices: “Pain at the pump drives Biden’s suffering in the polls.” At over 100 million b/d, global oil demand is back to above
Few are aware of what has been happening. Blackrock's ESG efforts have affected the willingness of the fossil giants to mine their holdings. The US government by building more barriers to producers mean investments are moving elsewhere. The EXXON board has over ruled it's ESG members and is finally making money. But investments in refinery capacity have declined.
Sadly the green future awaits the technologies that enable it. Utility scale batteries are needed but not yet ready. Cheap hydrogen production remains elusive and there are not enough materials to create enough EVs based on battery technology; hydrogen is their future again not ready yet. Also the EVs suffer limitations in grid capacity that cannot even meet current demand.
Serious investment is needed in these technologies. But governments are likely to dim those prospects as they find they need to solve their own financial issues.
Few are aware of what has been happening. Blackrock's ESG efforts have affected the willingness of the fossil giants to mine their holdings. The US government by building more barriers to producers mean investments are moving elsewhere. The EXXON board has over ruled it's ESG members and is finally making money. But investments in refinery capacity have declined.
Sadly the green future awaits the technologies that enable it. Utility scale batteries are needed but not yet ready. Cheap hydrogen production remains elusive and there are not enough materials to create enough EVs based on battery technology; hydrogen is their future again not ready yet. Also the EVs suffer limitations in grid capacity that cannot even meet current demand.
Serious investment is needed in these technologies. But governments are likely to dim those prospects as they find they need to solve their own financial issues.