RE:Trees, Electric Walls and the FutureDiversification is always good. Meantime AB is going to be in the oil business for quite some time.
Reason why TMX pipeline was built and will be starting up soon.
World population 8 billion+ and growing rapidly.
Appr 1 billion of those live in developed countries (basically the G7 nations and handfull of others), consuming 44M bbl/day of oil.
That’s appr 44k bbl/day for every million people.
EV ownership is gowing within this group, while oil consumption is holding steady.
The other 7 billion combined consume an avg of 57M bbl/day of oil (underdeveloped countries).
That’s 8k bbl/day for every million people.
China is included in this group, accounting for 22% of that 57M bbl/day.
Consumption in this group is really growing. In some countries, just scratching the surface.
There is minimal EV ownership in this group per million people.
As wages improve, so does quality of life in most of these places and oil consumption will grow.
If it grows by just 1k bbl/day for every million to 9k bbl/day for every million, that equates to a 7M bbl/day increase to 64M bbl/day (add in the 44M bbl/day = 108M bbl/day).
Where would that spare capacity come from? Opec has some.
Guyana poduction is growing. Opportunity for more Cdn oil sands production?