The IEA Reiterates Its Peak Oil Demand Prediction

Demand for oil, natural gas, and coal is set to peak before 2030, which undermines the case for increasing investment in fossil fuels. This is one of the outtakes from the International Energy Agency’s World Energy Outlook, released earlier today. While the agency does admit that investment in fossil fuels will remain necessary, it claims the growth era is over. Last month, the agency’s head, Fatih Birol, wrote in an op-ed that oil, gas, and coal demand were all going to peak before 2030 thanks to the increase in EV adoption and slower…