US EditionWorld oil, gas, coal demand to peak by 2030, IEA says
- The International Energy Agency predicts that world fossil fuel demand will peak by 2030, driven by a shift towards cleaner energy and increased adoption of electric cars. This undermines the need for further investments in fossil fuels.
- Despite this peak in demand, the IEA warns that current fossil fuel consumption is still too high to meet the goals of the Paris Agreement. Limiting global temperature rise to 1.5 degrees Celsius requires a rapid decline in fossil fuel use.
- The IEA emphasizes the importance of scaling up investment in clean energy systems to ensure an orderly transition away from fossil fuels. China, once a major driver of oil demand, is now shifting focus towards clean energy.
102 Articles
102 Articles
IAEA: Nuclear Energy Vital For Global Green Goals
The Singapore International Energy Week (SIEW) kicks off today. Attendees include top officials, policymakers, and experts across the energy sector. The aim of SIEW is to promote reliable and sustainable energy production while promoting competition in markets. Bloomberg reporter Stephen Stapczynski is at SIEW in Singapore. He posted a video on X of Mikhail Chudakov, deputy director general at the International Atomic Energy Agency, addressing a…
Gaza has oil markets on edge. That could build more urgency to shift to renewables, IEA head says
By DAVID McHUGH AP Business Writer FRANKFURT, Germany Tensions from the war in Gaza could help accelerate the move away from planet-warming fossil fuels like oil and gas and toward renewable energy, electric cars and heat pumps — similar to how sharp increases in the price of oil during the 1970s unleashed efforts to conserve fuel, the head of the International Energy Agency said. “Today we are again facing a crisis in the Middle East that coul…
Gaza has oil markets on edge. That could build more urgency to shift to renewables, IEA head says
Oil prices are up slightly and markets are tense after the outbreak of war in Gaza. That could accelerate the move to renewable energy, says the head of the International Energy Agency.
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