By 2030 75% of proved-and-probable oil & gas reserves will be produced, with demand higher than it is today. Oil demand will still be 50-60 mbd in 2070, Shell says.
All the oil majors have now produced scenarios involving this kind of high level of use of their products decades from now. If they go ahead with the kind of capex deployments that would be needed to set this future in train, and the more bullish among their critics are correct that demand for their products will evaporate, the fact that they are wasting money in assets that will be stranded should become clear rather soon. I will follow this drama closely on the site going forward.
Images: from Shell report