US EditionWorld oil and gas demand could grow until 2050, IEA says
The International Energy Agency's current policies scenario forecasts a 13% rise in global fossil fuel demand by 2050, risking increased global warming beyond Paris Agreement goals.
- As COP30 opened in Brazil, the International Energy Agency published its World Energy Outlook on Nov 12, warning that demand for oil and gas could grow through 2050.
- Restoring the Current Policies Scenario after five years reflects uncertainties and U.S. pressure, including calls from President Donald Trump to boost oil and gas production.
- STEPS shows oil demand will peak around 102 million barrels per day by 2030 then decline, while the Stated Policies Scenario expects it to reach 113 million barrels per day by 2050 and the CPS projects fossil-fuel use rising 13% by 2050.
- The IEA warns under the Current Policies Scenario global warming reaches 2.9 deg C by 2100 and roughly $300 billion is needed by 2035 to address gaps.
- The IEA says rapid electricity growth and data-centre demand boost gas needs, with $580 billion in AI-driven data-centre investment and 300 billion cubic metres LNG capacity by 2030.
55 Articles
55 Articles
IEA heralds 'the Age of Electricity' while warning that oil may not be peaking in 2030 after all
The world is rapidly approaching a crucial turning point in its energy consumption, with global demand for key fossil fuels, particularly oil and coal, expected to reach a peak around 2030, according to the International Energy Agency’s (IEA) flagship publication, the World Energy Outlook 2025. This pivotal moment is outlined in the IEA’s more transition-friendly “Stated Policies Scenario” (STEPS), which tracks energy trends based on government …
So long, peak oil: World demand could now grow until 2050, a top agency says
Global demand for oil and natural gas could grow until 2050, the International Energy Agency said Wednesday, departing from previous expectations of a speedy transition to cleaner fuels following UScriticism of its climate focus.
The International Energy Agency (IEA) estimated on Wednesday that global demand for oil and natural gas could grow until 2050.
The IEA suddenly foresees a long future for fossil fuels. For its credibility, it must become less dependent on US payments
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Lax oversight and an influx in federal COVID aid led to the increase in travel expenditures, which more than doubled since 2019 even as budget trouble loomed, according to the district’s Office of the Inspector General.
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