Quote:
Originally Posted by peter12
It depends on global growth, something that is plateauing rapidly, but without a massive technological breakthrough that provides energy with the same efficiency as fossil fuels (you haven't said a thing about the MASSIVE subsidies that renewables receive) then the tipping point will always be elusive.
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So oil demand peaking in 2004 in the OECD was because our economy didn't grow out to 2014?
There are technical alternatives. Watch the adoption rates of EVs especially in China. If they go over 1% of sales in the next 3 years then I would guess we'll see big action in the next decade. Of note, China has put massive amount of R&D money in EVs, they're positioning to be the manufacturing leader of EVS. Still lots of uncertainty and many different pathways but there's more and more discussion of global peak oil demand. Why do you think the Saudis are doing what they're doing right now? They're spooked of losing market share while the market peaks.