6 Factors Will Hasten Or Defer Peak Oil Demand

13 Nov 2017   Peak Oil

We haven’t reached peak oil consumption globally, also known as peak demand. We are likely to reach it globally by 2050, but it’s unlikely to occur before 2030 at the very earliest. There are six major factors which make defining exactly when it will occur very difficult. I haven’t seen any modelled analysis (including my own projection related to electric cars ) which includes all six. When you see yet another prediction of peak demand or peak oil, use this as a handy cheat sheet to see how much weight to put upon the analysis. Peak Demand is Different than Peak Oil It’s important to separate the meaning of peak demand from the previously understood meaning of peak oil. That term, commonly referred to as Hubbert’s Peak , suggested that economically extractable oil reserves were finite and that the peak of what was globally economic to extract was going […]

Comments are closed.