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Oil Demand Will Stay High—Get Ready for a Long Bumpy Ride!

Big Oil’s Shocking Revelation: Demand Isn’t Going Anywhere!

Hold onto your hats, folks! The giants of the oil industry are saying it loud and clear: global oil demand isn’t just going to dip and disappear—it’s going to plateau! That’s right, expect a slow, steady ride on this fossil fuel highway, with no screeching halt in sight for DECADES!

The Great Green Energy Mirage!

Despite all the buzz about renewable energy sources like solar and wind, the truth is dark and murky. European powerhouses like BP and Shell have found that the green energy game just isn’t bringing home the bacon! After a brief fling with renewables, they’ve dashed back to the oil and gas lifeline, realizing it’s still the real money-maker in a world where demand for petrochemicals keeps revving up.

Shell and BP Make a Desperate U-Turn!

In an eye-popping twist, investors got Shell-shocked when BP and Shell slashed their renewable dreams and re-embraced oil! With wild energy prices soaring, these titans knew they had to claw back profits fast to keep shareholders happy. The renewable road was too rocky, and they decided: "Let’s keep it old school—back to oil and gas!"

Norway’s Equinor Reverses Course!

And it’s not just BP and Shell! Norway’s Equinor switched gears after dropping “oil” from its name and now hard-cores back into drilling. CEO Anders Opedal vowed to extract every drop of oil from the Norwegian continental shelf for the next decade. That’s right—drilling up to 100 wells a YEAR! Talk about commitment!

Forget the Peak—Oil is Here to Stay!

While the International Energy Agency sings a different tune about peak oil by 2030, Big Oil is rolling its eyes. Not a peak in sight for them! With their eyes firmly set on 2050, they’re banking on oil and gas being the backbone of economic growth. ExxonMobil boldly states that over 50% of global energy will still come from fossil fuels even then. So, say goodbye to any dreams of a quick decline!

The Stark Reality of Investment!

Shell’s boss, Wael Sawan, warns that cutting oil and gas production would be utter madness. With oil demand still projected to rise by mere millions of barrels a day into the early 2030s, companies will need to shell out around $600 billion a year to keep the oil flowing!

BP’s Shocking Strategy Flip!

And the plot thickens! BP has shockingly reversed its plans to cut oil output and is now hatching ambitious strategies to ramp up its oil and gas projects in the coming years! Expect the production to hit 2.5 million barrels per day by 2030 as they gear up for a fossil fuel feast!

What Now? A Long, Slow Ride Ahead!

The bottom line? Whenever peak oil demand happens, it’s not going to be a dramatic plummet—it will be a slow grind toward a soft decline. Only a massive push towards net-zero emissions could change the game, but let’s be real—that’s not exactly in the cards right now.

So buckle up! The fossil fuel industry isn’t pulling over anytime soon, and they’re hell-bent on keeping those oil wells pumping for years to come!