Its 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 to occur. Hubbert himself suggested the 1980s would see this, while others suggested every year since. They were all, similar to Malthus, wrong.
6 Factors Will Hasten Or Defer Peak Oil Demand
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