Publications: Notes at the Margin

The Bleak Future for Oil (September 4, 2023)

 

Last week, ExxonMobil issued its “ExxonMobil Global Energy Outlook: Our View to 2050” report, which it describes as the firm’s “latest view of energy demand and supply through 2050.”[i] The introduction adds that the forecast “forms the basis for our business planning and is underpinned by a deep understanding of long-term market fundamentals.” As we note in this report, Exxon’s report more likely reflects wishful thinking rather than “a deep understanding” of market fundamentals.

 

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