Global demand for fossil fuels could well reach a peak. For the first time, the International Energy Agency (IEA) predicts a drop in the need for oil, gas and coal at the same time. Until now, such a peak was only expected for oil, whose growth should “slow significantly by 2028”.
Among the avenues for understanding such a phenomenon, the IEA points out in particular the success of legislation favorable to fossil fuels, the craze for electric cars or even “the structural changes” in the Chinese economy, which are driving the “spectacular growth of clean energy.
In 2022, the IEA already predicted that the share of fossil fuels in global energy consumption would fall from 60% in 2021 to around 45% in 2030, and to only 5% in 2050. The combustion of these is responsible for around 70% of global greenhouse gas emissions, which cause climate change.