The E&P business-I: It will stay viable until 2040 at least
Latest 2018 estimates indicate that there is enough gas reserves to take care of current global demand for the next 200 years 8Oil reserves can last another 150 years 8Such abundant supplies would mean two things -- oil and gas prices cannot be on an upward momentum in the long run and to be able to take care of demand, E&P investments will be need at around $0.5 trillion a year. 8Demand however will continue to go up for crude oil and gas right up to 2040. Even the outlook for coal doesn't look bad in absolute terms though market share falls. 8New detailed projections -- underpinned with a lot of data --- show that even if the world were to adopt electric cars, the impact on demand for crude will not be significant enough to cause an overall decline because of demand soaring from other segments of the energy economy. 8Gas may end up competing with renewable energy for market share but the demand for gas is slated to go up at a reasonably rapid pace up to 2040. 8In this scenario, what happens to the two degree centigrade pathway that world is chalking out? Find out more Click on Report.