By 2050, Meeting Global Oil Demand Will Require Accelerated Exploration and Trillion-Dollar Investments

Written by Roberta Souza

Published on 10/12/2020 at 16:02

Extração de petróleo

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In a Report Released by Rystad Energy, in 30 Years the World Will Run Out of Oil Sufficient to Meet Its Market Needs

In a report published by Rystad Energy, an energy research and business intelligence company, it shows that despite the decline in demand due to the Covid-19 pandemic and the accelerated energy transition, the world is still expected to have insufficient oil supply to meet its market needs by 2050 unless exploration is significantly accelerated and capital spending increases.

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To meet global demand over the next 30 years, undeveloped and undiscovered resources need to be added to the assets currently in production, totaling 313 billion barrels of oil, which will require US$ 3 trillion.

In the report, Rystad Energy estimates that to meet this demand by 2050, the exploration program will need to develop valuable resources of 139 billion new barrels. If the level of exploration activity remains low this decade, this is an impossible task.

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By 2050, Meeting Global Oil Demand Will Require Accelerated Exploration and Trillion-Dollar Investments

In a Report Released by Rystad Energy, in 30 Years the World Will Run Out of Oil Sufficient to Meet Its Market Needs

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By 2050, Meeting Global Oil Demand Will Require Accelerated Exploration and Trillion-Dollar Investments

In a Report Released by Rystad Energy, in 30 Years the World Will Run Out of Oil Sufficient to Meet Its Market Needs

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Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

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Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

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