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.
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The IEA also considers the Paris climate targets to be no longer achievable. With regard to fossil fuels, oil and gas, the organisation anticipates increasing demand by 2050. Previously, it had changed its predictive model according to US criticism.
Inside Climate News
ecotopical.comInternational Energy Report Projects a Slower Transition to Renewables, but Oil Could Still Peak This Decade
A new report from the International Energy Agency says renewable energy is surging ahead, but natural gas demand could peak five years later than it forecasted last year.By Blanca BegertThe world is still on track to reach peak oil around 2030 if countries stick to their “stated policies,” according to a new report released Wednesday by the International Energy Agency.
DEXYPTAGE - According to the International Energy Agency, the expected leap in gas production, particularly in liquefied form (LNG), will exceed demand.
The world will struggle to meet climate targets, according to a new outlook released by the International Energy Agency (IEA). Demand for oil and gas could grow until 2050, the agency said, revising its previous forecasts that had predicted that demand for oil would be flat or lower this decade.
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