Artificial intelligence could help extract an additional trillion barrels of oil, potentially extending reliance on oil and gas until 2050. Despite AI’s role in optimizing extraction, climate activists see it as hindering the transition to a net-zero energy system by making oil profitable again. Wood Mackenzie’s AI tool reveals the potential to tap one trillion barrels of oil from existing fields. The energy industry’s reliance on AI for optimization may contribute to a veering off the Paris Agreement course due to the massive energy consumption required. Traders are anticipating a natural gas rally as AI infrastructure consumes significant electricity, leading to concerns about electricity shortages in some regions. While AI presents challenges in terms of energy consumption, some believe it can aid the energy transition by improving power generation and distribution while keeping energy affordable. Despite efforts to transition to low-carbon technologies, global oil demand continues to surge, with AI potentially putting a ceiling on prices by optimizing drilling processes. 1. The stock market experienced a sharp decline today, with the Dow Jones Industrial Average dropping 500 points. This was attributed to concerns over rising inflation and interest rates, as well as uncertainty surrounding global trade tensions.
2. A new study has found that regular exercise can significantly reduce the risk of developing dementia in older adults. The research, published in the Journal of Alzheimer’s Disease, highlights the importance of staying physically active as a way to protect brain health.
3. The United Nations has reported that more than 1.5 million children around the world have been affected by school closures due to the COVID-19 pandemic. This has raised concerns about the long-term impact on children’s education and well-being.
4. In entertainment news, Netflix has announced a new documentary series about the life and career of legendary musician Prince. The series, titled “Prince: The Last Interview,” will feature rare footage and interviews with those who knew the iconic artist best.
Read more at Yahoo Finance: AI Becomes a Boost for Global Oil Demand, Not a Bridge to Net Zero