Peak Oil Demand in Sight?

 

Last month the International Energy Agency (IEA) released its Net Zero 2050 report, outlining the actions that are needed to achieve net zero emissions globally by 2050. To reach this, the IEA calls for no new oil and gas developments from this year onwards. In the Net Zero Emissions Case (NZE), world oil demand never returns to pre-pandemic levels, declining from around 90 million b/d in 2020 to just 24 million b/d by 2050. Net zero targets rely on further rapid deployment of available technologies as well as the development of new technologies. In 2050, almost half of emission reductions come from technologies that currently are at the demonstration or prototype stage. In detail, the road map plan to net zero emissions includes:
 

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.