The International Energy Agency published its World Energy Outlook this week, its annual effort at revising assessments of future demand for and supply of fuels and electricity. There’s a familiar theme within it: The IEA expects more renewable-energy use in the future than it did in last year’s outlook, which was more than it forecast in the 2016 outlook. There’s also something noteworthy on transportation: The IEA is calling the top on oil demand from cars.
Oil use for cars peaks in the mid-2020s, but petrochemicals, trucks, planes and ships still keep overall oil demand on a rising trend. Improvements in fuel efficiency in the conventional car fleet avoid three-times more in potential demand than the 3 million barrels per day (mb/d) displaced…Click here for full article.