💬The world needs to spend some $540 billion a year looking for oil and gas to maintain current output by 2050, according to the International Energy Agency.
Without investment, global supply would fall by the combined production of Norway and Brazil — more than 5 million barrels a day — every year.
The industry has to run much faster just to stand still, according to IEA Executive Director Fatih Birol, due to the need for elevated output for years to come.⤵️
https://archive.is/fEOmh
😵💫Ellinne
Without investment, global supply would fall by the combined production of Norway and Brazil — more than 5 million barrels a day — every year.
The industry has to run much faster just to stand still, according to IEA Executive Director Fatih Birol, due to the need for elevated output for years to come.⤵️
https://archive.is/fEOmh
😵💫Ellinne
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