The Largely Ignored Problem Of Global Peak Oil Will Seriously Hit In A Few Years | CleanTechnica

The Largely Ignored Problem Of Global Peak Oil Will Seriously Hit In A Few Years | CleanTechnica

Yet, one important piece of news on the global energy transformation went unnoticed, despite the fact that it came from one of the most influential organizations, the International Energy Agency (IEA). The dramatic message was hidden in a graph on page 159 of the 2018 World Energy Outlook (WEO), the annual edition of the most significant report on global energy developments.

It shows that with no new investment, global oil production — including all unconventional sources — will drop by 50% by 2025 (Figure 1). That means that the global oil supply crunch is likely to happen already in the next five to six years and not in decades, as many fossil fuel companies hope. The global annual oil production is set to decline by approximately six million barrels per day starting in 2020. That means in the coming years the provision of energy related to oil will reduce annually by an amount equal to the total energy demand of Germany in 2014.

via The Largely Ignored Problem Of Global Peak Oil Will Seriously Hit In A Few Years | CleanTechnica

One thought on “The Largely Ignored Problem Of Global Peak Oil Will Seriously Hit In A Few Years | CleanTechnica”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.