1. Oil and Gas is still a 3.2 Trillion, with a “T”, dollar industry According to market research by IBISWorld, a leading business intelligence firm, the global oil & gas exploration and production (E&P) market in 2020 was approximately $3.2 trillion.
O&G accounts for over 2/3rds of the world energy mix. Even with forecasting a 3% decrease year over year, the O&G industry will still be in the “4 Comma Club” in 2050. Eat your heart out Russ Hanneman. (Ref. Silicon Valley) 2