Oil is the resource that caused conflicts between many countries, for some countries such as Saudi Arabia its their treasure. Many transportation sector such as Aviation, Cars, Trucks, and for some countries it includes Railways, but in the era of Electric Vehicle and Renewable energy do you think there is a threat to Oil market globally? lets try to find out the range of oil existence.
According to the World Energy Outlook 2019 there was a increase in the oil consumption in 2018 but this demand rosed from US, as expected from China the major portion of oil included was gasoline,diesel, LPG and other small by products such as ethane.
World energy outlook comes with a two scenarios for identifying the Oil market demand and production. In the stated Policy scenario demand growth is high till 2025 but thereafter demands crawls and reaches to 106 mb/d in 2040. In the Sustainable development Scenario demand drops to 67 mb/d in 2040.
As per one scenarios there is a increase in Oil demand but as per second scenarios there is a drop in the demand, so how is this happening. It totally depends on the strict environment policies, if the policies in the future changed,considering the globally warming the Countries government and the European Union could strict their policies on the use of oil and gas in the transportation as majorly.
China which is the biggest pollutant generating country is slowly shifting its transportation to renewable or Electric, so considering the sustainable development scenario there is a threat to Oil and gas market specifically coming from Transportation sector.
A major shift is happening in the energy world lets see which energy source dominates in the future, but its pretty much obvious that coming future is of Alternative energy sources.
According to the World Energy Outlook 2019 there was a increase in the oil consumption in 2018 but this demand rosed from US, as expected from China the major portion of oil included was gasoline,diesel, LPG and other small by products such as ethane.
World energy outlook comes with a two scenarios for identifying the Oil market demand and production. In the stated Policy scenario demand growth is high till 2025 but thereafter demands crawls and reaches to 106 mb/d in 2040. In the Sustainable development Scenario demand drops to 67 mb/d in 2040.
As per one scenarios there is a increase in Oil demand but as per second scenarios there is a drop in the demand, so how is this happening. It totally depends on the strict environment policies, if the policies in the future changed,considering the globally warming the Countries government and the European Union could strict their policies on the use of oil and gas in the transportation as majorly.
China which is the biggest pollutant generating country is slowly shifting its transportation to renewable or Electric, so considering the sustainable development scenario there is a threat to Oil and gas market specifically coming from Transportation sector.
A major shift is happening in the energy world lets see which energy source dominates in the future, but its pretty much obvious that coming future is of Alternative energy sources.
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