The International Energy Agency (IEA) says global demand for oil will peak before 2030. What are the business implications of a post-peak world?
thank you... i believe that the IEA is grossly mistaken in their peak oil, coal or gas estimates the reason why has to do with how they estimate and allocate primary energy requirement and use.... other agencies, such EIA IEEJ have a different view as well wind and solar, due to their low energy density and intermittency, have a much larger primary energy requirement (also from coal, gas, and oil) than anticipated details at blog.unpopular-truth.com article on primary energy
There are a lot of things in modern life for which there is no substitute for oil outside of the energy discussions, and to date, very few analysts seem to focussing on that part of the story. Of course, whether there will be a peak in 2030, depends very much on the accuracy of proven reserves assessment, or potentially extractable reserves.
IEA issued various scenarios, one of them was the peak Oil by 2030 that is incorrect, that they should not publish without the proper caveats IEA looses credibility that they need.
Belle Becker
6d
Good point! 😊
Managing Director, INIST
3dWhat we are all witnessing on the world stage is a profound race to the bottom. Which country can exhaust its oil faster than any other? The USA of course has spent the last decade (plus) drilling and boasting about its success in poisoning the aquifers and surfaces of large sections in several states to wrestle out the meager gunk lurking down there in the bottom of the barrel. Not that America is alone. Most visibly, Syria's oil fizzled out in the early 20-teens, leading to famine, civil war, and proxy wars among superpowers competing to see which could do more damage to the country's already shredded social fabric. I thank the IEA for calling attention to the urgent need, regardless of how they frame it. At least one major institution is calling for change. Countries that get off oil intentionally will suffer less than those who postpone the inevitable collapse of the oil industry, a house of cards if there ever was one!