> I wonder what the next 20 years will bring, especially with the shift to electric vehicles.
The expectation of a shift to electric vehicles is highly exaggerated. In 20 years, most of the cars will run on gas with a small market share of electric/hybrids/hydrogen cars. It's pretty much a certainty at this point. Even if electric vehicles are economical today, everyone isn't going to switch their current cars. Moving the car market towards electric will take many decades, if it ever goes electric at all.
The projections for oil is the projections for every energy source but coal. Up.
The expectation of a shift to electric vehicles is highly exaggerated. In 20 years, most of the cars will run on gas with a small market share of electric/hybrids/hydrogen cars. It's pretty much a certainty at this point. Even if electric vehicles are economical today, everyone isn't going to switch their current cars. Moving the car market towards electric will take many decades, if it ever goes electric at all.
The projections for oil is the projections for every energy source but coal. Up.
https://www.eia.gov/todayinenergy/detail.php?id=32912
This is the same conclusion reached by pretty much every institution. Oil will be the dominant source of energy in 2040 just as it is today.