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摘要

Don't doubt it for a minute: Our fate ultimately comes down to the same old thing—global oil demand. There are so many well-intentioned analyses, bold projections, passionate debates or ugly protests against fossil fuels, emissions, global warming, politics, returns, whatever, floating around, but the industry's fate still comes down to what level of oil demand there is now, and what it will be in the future. Steady as she goes, declining slightly, rising slightly? U.S. producers will be essential workers so long as there is sufficient oil demand. The question is, how will these producers meet that need in light of declining fields, net-zero goals, pipeline opposition and capital availability challenges? Which producers will do it?