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Elon Musk: Oil and gas should not be demonized, and should not be abandoned in the short and medium term [with analysis of the current situation of supply and demand in the global oil and gas industry]

author:Qianzhan Network
Elon Musk: Oil and gas should not be demonized, and should not be abandoned in the short and medium term [with analysis of the current situation of supply and demand in the global oil and gas industry]

Source: Photo.com

On Saturday, Musk said at a political rally organized by Italy's ruling party that oil and gas should not be demonized in the short to medium term. The transition to a sustainable energy future will take decades and cannot happen overnight.

Musk said that the climate change alarm has been exaggerated in the short term, and environmental action is now a bit too much, causing people to lose faith in the future.

Emphasizing that he is an environmentalist, he added that it is important in the long run to reduce the use of fossil fuels in manufacturing to reduce carbon emissions, but this does not arbitrarily mean that fossil fuels should be abandoned now.

The global oil and gas industries have been a major component of the global energy market. Both industries have a huge impact on the global economy and energy supply. Musk's speech sparked thinking about environmental actions, and made people re-examine the process and timing of the sustainable energy transition. His views have also sparked discussions, allowing people to look more rationally at the real challenges and future developments of the sustainable energy transition.

Global oil production fell by 5.3%

According to the BP World Energy Statistical Yearbook 2021, global oil production showed an overall downward trend from 2015 to 2020. In 2019, global oil production was 4.478 billion tons, a year-on-year decrease of 0.14%. Global oil production in 2020 fell by 5.3% from 2019 to 4.165 billion tons.

Elon Musk: Oil and gas should not be demonized, and should not be abandoned in the short and medium term [with analysis of the current situation of supply and demand in the global oil and gas industry]

The United States consumes 19.41% of the world's oil resources

From the perspective of regional structure, the top 10 countries in oil consumption in 2020 are the United States, China, India, the United Arab Emirates, Russia, Japan, etc. The United States is the largest consumer of oil resources, accounting for 19.41% of global oil consumption in 2020.

Elon Musk: Oil and gas should not be demonized, and should not be abandoned in the short and medium term [with analysis of the current situation of supply and demand in the global oil and gas industry]

China's natural gas consumption fell slightly in 2022

According to the National Energy Administration, China's natural gas consumption has been rising and growing rapidly in recent years. For the whole year of 2022, China's natural gas consumption was 366.3 billion cubic meters, down 0.73% year-on-year from 2021.

Elon Musk: Oil and gas should not be demonized, and should not be abandoned in the short and medium term [with analysis of the current situation of supply and demand in the global oil and gas industry]

The proportion of natural gas consumption in the power sector has further increased

In recent years, driven by the "dual carbon" policy, the installed capacity of domestic natural gas power generation has shown a growth trend in recent years. With the further development and maturity of natural gas power generation system products and technology level in mainland China, domestic natural gas power generation industry enterprises are gradually developing towards standardization, and a number of enterprises with core technology advantages will stand out, and market concentration will show an increasing trend. At the same time, from the perspective of the development area of natural gas power generation in the mainland, the area of construction and layout of gas turbines will be further expanded.

Elon Musk: Oil and gas should not be demonized, and should not be abandoned in the short and medium term [with analysis of the current situation of supply and demand in the global oil and gas industry]

Prospective Economist APP Information Group

For more research and analysis of this industry, please refer to the "Analysis Report on the Development Prospect Forecast and Investment Strategic Planning of China's Petroleum and Natural Gas Extraction Industry" by Qianzhan Industry Research Institute

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