Global demand for fossil fuels could peak starting later this decade, according to a prominent energy forecaster, as part of a faster than expected shift that the agency said has been hastened by the energy crisis stemming fromThe International Energy Agency, a Paris-based group of some of the world’s biggest energy users, said the war and the disruption to energy markets that it has unleashed has set off a realignment of global supply and demand.
“Energy markets and policies have changed as a result of Russia’s invasion of Ukraine, not just for the time being, but for decades to come,” said Fatih Birol, executive director of the IEA, which is funded by oil-consuming nations including the U.S. “The energy world is shifting dramatically before our eyes. Government responses around the world promise to make this a historic and definitive turning point.
The IEA’s timetable is partly in response to soaring fossil-fuel prices and the sudden loss of Russian energy supplies, triggered by the war, the agency said in its annual World Energy Outlook, released early Thursday. Governments have rushed to secure alternative energy supplies. At the same time, they have accelerated pledges to boost renewable energy, with commitments totaling $2 trillion by 2030, 50% more than current levels, the agency said.
Meanwhile, the rollout of renewable energy such as wind and solar has been stalled in countries including the U.S. and India by factors ranging from policy and trade barriers to shipping bottlenecks and slow permitting.
I AM JUST THINKING IN AMAZON ONLY.... AMAZON AMAZÔNIA AMAZON.....
Let's hope so.
IEA 🤡🤡 non credible
Later this decade? We will lucky to make it to 2023.