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Oil industry needs $3Trillion to make it to 2020

ICYMI: Summer 2016 Oil Recap — D. Ray Long: "In a recent report, John England and Andrew Slaughter at Deloitte conclude that, at minimum. the global upstream industry will need to invest about $3 trillion during 2016-2020 to ensure long-term sustainability.It's an open question if anyone actually wants to spend that money for less than stellar returns. Recall Steven Kopits' wonderful talk from over two years ago where I wrote:"Kopits addresses the "flatness" of oil production since 2005, and why the decline has not been steeper.
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