Yesterday, the same day that Juan Diego Celemín Mojica discussed at length for CleanTechnica the matter of global peak oil demand and how the International Energy Agency and OPEC+ are noticing versus ignoring EV sales growth in China and declining oil demand, the US Energy Information Administration put out an … [continued]
Half of the world’s economy has already reached peak gasoline and diesel demand while electric vehicle deliveries in every segment are shooting through the roof.
When the IEA said recently that the world needs to slash the use of fossil fuels, the folks at OPEC went ballistic.
Back in 2019 — before the Covid pandemic hit — the International Energy Agency (IEA) said it had peered into the future and could see no sign of “peak oil” happening any time soon. There was simply no end to the demand for oil and other fossil fuels in sight. … [continued]
As Sheikh Zaki Yamani, a former Saudi oil minister, once said, “The stone age came to an end not for a lack of stones, and the oil age will end, but not for a lack of oil.” But some oil will still be being pumped at the end, and it won’t be heavy, sour, far from water crude.
The latest note from Carbon Tracker warns that Peak Oil demand is coming sooner than most people think and could lead to stranded assets and massive losses. It may not appear so at the moment, as energy in all forms is in massive demand, coming out of the economic doldrums … [continued]
The world is unlikely to see a return to pre-COVID-19 levels of shipping, projecting a minor peak in roughly 2030, and then a decline before it flattens out again.
A quick glance at the current political situation in the United States would seem to give the fossil fuels sector a possibility of a clear path to the future, as there is a chance that the current regime will stay in power. But that may be a delusion, with or without a political change.
OPEC is beginning to see the writing on the wall. Demand for oil is declining and may never recover. That’s good news for the Earth.
Are we close to the end of fossil fuels? Has peak oil arrived and what are the impact and opportunities for cleantech? It’s been a topic of heated conversation for decades.
