Last week we published a written post that took a fresh look at a long standing theme of ours “obliterating peak oil demand” (here). We dug into OPEC Research’s most recent “World Oil Outlook” report (here) to compare OPEC’s more optimistic view of long-term oil demand to more bearish forecasts from the IEA and frankly many other leading energy voices. Our own outlook is closely aligned with OPEC’s in recognizing the unmet energy needs of the other 7 billion people on Earth is massive. The idea that anyone can know today that oil demand is going to permanently peak within the next decade is something we push back hard on. That post has sparked a number of questions, 5 of which we will aim to address today.
Our On A Personal Note this week remembers heavy metal pioneer Ozzy Osbourne, who passed away on July 21. I was fortunate to catch a Black Sabbath reunion tour in 2016, which you can find a link to here.