[belsarius]

Originally Posted by Tinordi

Remember when I was lambasted pages back for saying that oil demand will probably peak by 2030? According the Shell the peak could happen in 5 years:

https://www.bloomberg.com/news/artic...eak-in-5-years

Other news of interest, Exxon "debooked" (wrote down) 19% of global oil reserves last week. The largest share of the write down was from the oil sands.

http://www.bloomberg.com/news/articl...-extends-slump

Not to portend doom, but I think is quite likely that the growth phase of oil sands production is permanently over.

I could see that 2030. China is focused on peaking it's carbon emissions by 2030 and have been moving to renewables. I think Hydrogen fuel is almost to the point where is can start to take over mass vehicle propulsion, there are lots of pilot projects in Europe and now China is using Canadian Hydrogen technology in their busses.

There will still be need for oil for a while to come, but I think you are right the growth phase we saw for the last decade may be over but I don't think there will be a decline in production for many years still.