Global demand for oil will reach its peak this decade, the International Energy Agency predicted for the first time, amid growing popularity of electric cars and the cooling of China’s economy.
“The transition to clean energy is happening worldwide and it’s unstoppable,” IEA executive director Fatih Birol said in a statement. “Claims that oil and gas represent safe or secure choices for the world’s energy and climate future look weaker than ever.” The IEA’s base-case reflects energy policies currently pursued by governments worldwide and the continued ramifications of last year’s energy crisis.
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