IEA Predicts Peak in Global Oil, Gas, and Coal Demand by 2030
The International Energy Agency (IEA) predicts that global demand for fossil fuels, including oil, gas, and coal, will peak by 2030 due to the increasing adoption of electric cars and China's shift towards cleaner energy. This contradicts the view of the Organization of the Petroleum Exporting Countries (OPEC), which expects oil demand to continue rising beyond 2030 and calls for significant investment in the oil sector. The IEA emphasizes the need for governments, companies, and investors to support clean energy transitions and scale up investment in clean energy systems rather than fossil fuels. However, the IEA also warns that current fossil fuel demand remains too high to meet the goals of the Paris Agreement and mitigate climate change.
