Yesterday’s fuel
As we know, the dawn of the oil age was fairly recent and since then, the demand for oil has risen steadily alongside ever-increasing travel by car, plane and ship. One of the oil giants, Britain’s BP, actually reckons it will grow from 89m b/d now to 104m b/d by 2030. But the Economist reckons they are wrong, and that the world’s thirst for oil could be nearing a peak. While the descend in demand for what is now coined yesterday’s fuel, is potentially bad news for producers, it’s excellent for everyone else…
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