Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’

Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’

Recently, Fatih Birol, Executive Director at the International Energy Agency (IEA), outlined in an article for Financial Times that the world was on the brink of “a historic turning point,” with the demand for fossil fuels set to peak before 2030, although, the decline in oil, gas and coal would not be “steep enough” to meet the requirements of the Paris Agreement and limit global warming to 1.5 C. “Despite recurring talk of peak oil and peak coal over the years, both…

Read More

Global Market: America to lead global oil supply growth, no peak demand in sight

Global Market: America to lead global oil supply growth, no peak demand in sight

The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s annual oil market forecast. By the end of the forecast, oil exports from the United States will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply.

Read More

Global Oil & Gas: “Peak oil demand 12 years away” – Bank of America

Adding another voice to the peak oil debate, Bank of America Merrill Lynch predicts that the world will hit peak oil demand by 2030. At that point, EVs will account for 40 percent of auto sales. “Electric vehicles will likely start to erode this last major bastion of oil demand growth in the early 2020s and cause global oil demand to peak by 2030,” the analysts wrote in an emailed report.

Read More