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  "documentTitle": "Engine No. 1 | Activist Presentation Deck | 83 slides",
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  "authorName": "Engine No. 1",
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  "presentationDate": "2021-05-01 00:00:00",
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  "notes": "Uses IEA and BNEF data to challenge the assumption that petrochemicals will be the primary driver of future oil demand growth.",
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      "text": "Oil demand by sector, 2019-2030, IEA STEPS scenario",
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      "text": "Increased efficiency in manufacturing and industrial processes could dramatically impact future demand. For example, the IEA's WEO 2020 assumes that petrochemicals will be the largest driver of future oil demand growth, accounting for three-quarters to 2040. BNEF, however, predicts petrochemical demand growth to be slower due to increased recycling, and development of alternatives to oil & gas derived feedstocks. We estimate that increasing global recycling rates to 50% by 2040 (from ~20% today) could reduce petrochemical led oil demand by ~20%, and total oil demand by ~3%.",
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      "text": "Gains in efficiency – many relying on existing technology – could result in significantly diminished demand.",
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      "text": "A sharp pick-up in efficiency improvements is the single most important element that brings the world towards the Sustainable Development Scenario...",
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      "text": "Text source: IEA's World Energy Outlook 2019 & 2020, Bloomberg NEF. Chart source: IEA's World Energy Outlook 2020.",
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      "text": "Impact of Increased Efficiency on Demand Predictions",
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