Coal demand could peak in 2020 and fall to half 2012 levels by 2050. Oil demand could be flat from 2020 to 2030 then fall steadily to 2050. Most major oil and gas companies do not expect coal to peak before 2030 and none see peak oil demand occurring before 2040.
How Innovation Could Bring Us to Peak Oil by 2020
Energy companies are grossly underestimating low-carbon advances with a business-as-usual approach according to a new report co-authored by the Grantham Institute at Imperial College London and the Carbon Tracker Initiative. Falling costs of electric vehicle and solar technology have the potential to halt the growth in global demand for oil and coal from 2020, challenging the wisdom of backing fossil fuel expansion.
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