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      "text": "Oil Demand – Current Trajectory vs Paris (<20C) Trajectory",
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      "text": "~2/3 of the world’s emissions come from countries with net zero by 2050 emissions goals, and as soon as later this year at COP 26 countries may significantly increase their commitments, as the US has already indicated it will do",
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      "text": "This conclusion does not necessarily follow, however, as continued energy demand growth could also accelerate global decarbonization efforts",
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      "text": "Historical rates of response to climate change may also be poor predictors, given that efforts may accelerate as impacts grow increasingly clear, and the developing countries ExxonMobil is counting on for demand growth are likely to suffer the worst impacts of climate change",
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      "text": "ExxonMobil points to population growth, particularly in the developing world, and the historical page of change in the industry in predicting future growth in fossil fuel demand",
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      "text": "If no significant action is taken between now and 2040 oil demand is expected to be c52% higher than required under a <2 degree compliant pathway. In this scenario, adverse climatic and weather effects present considerable downside risk to oil demand.",
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