Saudi - Drug Capital of the ME

See above worldwide energy demand is growing fast.

 

How so?
Much of the world can’t heat or cool their homes or even have electricity?
Something like a billion people live energy deficient.

Maybe you meant peak oil demand.

Global energy demand to grow 47% by 2050, with oil still top source: US EIA

Global energy demand to grow 47% by 2050, with oil still top source: US EIA


EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia.

EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia


https://www.eia.gov/todayinenergy/images/2019.09.24/main.svg

 

The article shows energy carbon emissions from OECD countries as flat through 2050. That seems pessimistic.

 

I’m not talking about carbon emissions, I’m talking about overall energy needs.
OECD countries may have flat carbon emissions the rest of the world will increase their use of Oil, coal, LNG, it will be cheaper for them to use than going green.
If you look down the page it shows increased use of Oil, NG and coal from todays levels.
“Global natural gas consumption increases more than 40% between 2018 and 2050, and total consumption reaches nearly 200 quadrillion Btu by 2050. In addition to the natural gas used in electricity generation, natural gas consumption increases in the industrial sector. Chemical and primary metals manufacturing, as well as oil and natural gas extraction, account for most of the growing industrial demand.

Global liquid fuels consumption increases more than 20% between 2018 and 2050, and total consumption reaches more than 240 quadrillion Btu in 2050. Demand in OECD countries remains relatively stable during the projection period, but non-OECD demand increases by about 45%.”

 

My only point was they show OECD fossil fuel consumption to be flat - when I would have assumed it to be decreasing. That aspect just seems overly pessimistic.

But overall I think the premise is mostly correct. As developed countries switch to renewables, fossil fuels will become cheaper for developing countries.

The wildcard is at what rate renewables continue to go down in cost.

 

But the overall demand for fossil fuels still rises, even with OCED increasing “green tech”, I don’t see how that causes a decrease in price.

 

I’m not necessarily disputing that fossil fuel use rises in developing countries. I’m just questioning the reliability of the information in general as it shows OECD companies not consuming any less fossil fuels in the next 30’years. Most of these countries are mature, are converting to green energy and have stable populations. Some even have goals to be carbon neutral by 2050 - perhaps an aggressive goal, but in reality to consume just as much in 30 years?

I would expect countries like India to use more fossil fuels. Perhaps China also, although they are rapidly moving to renewals. But not US and most of Europe.

 

OCED countries will still have increased energy demands.
Tech does this.
Also using more EVs cars does this, the grid needs more capacity, all those batteries need charging. Replacing millions of ICE engines which are more energy efficient than EVs overall will cause more demand.

 

Like I was saying. I hate MBS, and wish they were not strategically important