In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis uncover the events of 2020 that have left the global petroleum industry in disarray. As the story continues to unfold we must ask: when global oil demand eventually returns to pre-pandemic levels and ultimately continues to grow, will the world have enough crude to meet demand for the upward trajectory of energy consumption? According to Rystad Energy, the answer is no. They predict the world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the COVID-19 pandemic and the accelerating energy transition – unless exploration speeds up significantly and capital expenditure of at least $3 trillion is put to the task.
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