kmr9600 t1_j5vcklp wrote on January 25, 2023 at 8:43 PM

Working in the industry, I do not see any decline in global drilling. Only where policy makers make it more difficult. As much as anyone wants fossil fuel to go away that will never happen in our lifetime. All the current "green policies" are doing is wiping out the smaller companies and making the asset more valuable for the giants. That never goes good for the common person. Be careful what you wish for.

minilip30 t1_j5vlw78 wrote on January 25, 2023 at 9:39 PM

The green policies are having a huge impact on oil consumption. US consumption is actually down since 2005, even with a significantly larger population. Decreased consumption is part of the reason we are energy independent right now.

Global oil demand is forecast to peak in the 2030s, so you’re right that it’s not right around the corner. But we will probably transition away from fossil fuels in my lifetime. Certainly in the US, but probably worldwide as well.