Skip to content
Oil Change International | Data Driven, People Powered. Oil Change International | Data Driven, People Powered.
  • About
    • Our Work
    • Values
    • Team
    • Jobs at OCI
    • Ways to Give
  • Program Areas
    • Africa
    • Asia
    • North Sea
    • United States
    • Global Industry
    • Global Public Finance
    • Global Policy
  • Blog
  • Press Releases
  • Publications
Donate
  • Get Updates
    • Share on Bluesky Share on Bluesky Bluesky (opens in a new window)
    • Share on Twitter Share on Twitter Twitter (opens in a new window)
    • Share on Instagram Share on Instagram Instagram (opens in a new window)
    • Share on LinkedIn Share on LinkedIn LinkedIn (opens in a new window)
    • Share on Facebook Share on Facebook Facebook (opens in a new window)
Donate
  • About
    • Our Work
    • Values
    • Team
    • Jobs at OCI
    • Ways to Give
  • Program Areas
    • Africa
    • Asia
    • North Sea
    • United States
    • Global Industry
    • Global Public Finance
    • Global Policy
  • Blog
  • Press Releases
  • Publications
    • Get Updates
    • Share on Bluesky Bluesky
    • Share on Twitter Twitter
    • Share on Instagram Instagram
    • Share on LinkedIn LinkedIn
    • Share on Facebook Facebook
Go to OCI Homepage
Current Affairs
Published: October 16, 2007

$20 Trillion to Meet Oil and Gas Demand

  • Latest from OCI
  • Blogs listing
  • $20 Trillion to Meet Oil and Gas Demand
    • Blog Post Current Affairs extreme energy oil demand oil industry outlook
Andy Rowell

When not blogging for OCI, Andy is a freelance writer and journalist specializing in environmental issues.

[email protected]

The oil and gas industry will need as much as $21.4 trillion in capital expenditures between now and 2030 to meet sharply growing global demand for hydrocarbons forecast by experts, according to analysts.
Larry G. Chorn, the chief economist for Platts, which provides energy and commodities information, argues capital spending is likely to exceed $1 trillion annually in 2016 and $2 trillion in 2026 as the industry tries to satisfy surging consumption in the U.S. and abroad.
The bulk will go toward exploration, development and maintenance of the crude oil supply, the Platts’ analysis says. Refining and transportation will account for the remainder. “The coordination and management of these projects are going to require a tremendous effort,” Chorn told petroleum executives at an industry conference.
How about a little more effort into renewables, instead?

Oil Change International | Data Driven, People Powered.
Donate Get Updates
Back to the top
  • Keep in touch

  • Oil Change International
    714 G St. SE, #202
    Washington, DC 20003
    United States

    +1.202.518.9029

    [email protected]

    • Share on Bluesky Bluesky (opens in a new window)
    • Share on Twitter Twitter (opens in a new window)
    • Share on Instagram Instagram (opens in a new window)
    • Share on LinkedIn LinkedIn (opens in a new window)
    • Share on Facebook Facebook (opens in a new window)
  • Quick links

  • About OCI
  • Our Values
  • Jobs at OCI
  • Ways to Give
  • Media Centre

  • Publications
  • Press
  • Associated websites

  • Big Oil Reality Check
  • Energy Finance Database
  • Permian Climate Bomb
  • Site map
  • Privacy policy

Copyright © 2025 Oil Change International. Web design by Fat Beehive