constantnormal

IEA Report - Trouble for Oil ETFs?

Projections that are 20 years out are nothing but fantasies. Nobody can accurately project anything, in any area 20 years into the future.

There are so many status quo assumptions built into this projection that will ultimately be toppled that it is ludicrous. Technologies change, markets change, the global economy changes. And so far as global warming goes, who's to say that a decade from now some process to actively suck greenhouse gases out of the atmosphere will not emerge, that happens to use oil as a working medium? I can indulge in ridiculous fantasies just as much as the IEA.

The IEA is first and foremost, selling advice to rich oil-producers, so one would expect that advice to be heavily tailored to what their customers want to hear.