| Over the next decade, private-sector companies may invest over $1 trillion to develop new sources of high-cost oil production. Much of this future production will (1) be profitable only if oil prices remain near current (historically-high) levels; and (2) come online at a time when global oil demand may be entering the start of a long-term decline.
Investors in oil producers need to ask: how rigorously do these companies stress-test new projects against scenarios of declining oil demand and diminished oil prices? Last year the world consumed 91 million barrels per day of oil to fuel cars and trucks, heat buildings, make petrochemicals, and generate electricity, among other uses...............................................Full Article: Source
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