Global demand for fossil fuels will decline by 2050, with investment in clean energy growing, IEA says

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Investment in clean energy is set to rise more than 50 per cent from today’s levels to more than US$2-trillion a year by 2030

Note: Stated Policies Scenario looks not at what governments say they will achieve, but at what they are actually doing to achieve the targets and objectives they have set out, and assesses where this leads the energy sector.The rapid global growth in natural gas demand is also set to draw to a close. Even under the highest-gas-use scenario, global demand rises by less than 5 per cent between 2021 and 2030, then remains flat to 2050.

Between the drop in fossil fuel use, a surge in clean-energy investment and a rebalance in global energy markets, the outlook has the world hitting its highest emission levels in 2025. However, the report warns that the world has not been investing enough in energy in recent years, which is why the energy market was so vulnerable to the shocks seen this year. A smooth and secure energy transition will require a major uptick in clean-energy investment, and reaching net-zero emissions in the coming decades will require spending in the sector to triple through 2030.

The combination of the pandemic and the energy crisis means that 70 million people who recently gained access to electricity will likely lose the ability to afford that access – and 100 million people may no longer be able to cook with clean fuels, returning to unhealthy and unsafe means of cooking, the analysis found.

 

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Maybe because oil and gas companies won’t invest capital in projects that take years to pay off because you never know what the government is going to do so energy prices will soar higher with low supply.

'Fossil' Fuels are not rare. 'Fossil' Fuels actually regenerate much faster than oil companies/governments let on.

Hopefully something more useful than wind and solar by then! I’m puzzled why climate hysterics opted to advocate for climate related energy sources🤔🤔

Maybe for fuel….but it will increase for products made from petroleum hydrocarbons….like all the green energy materials. Can’t make a car from sunshine.

🤣🤣🤣🤣🤣🤣

They've been saying the same for over 50 years. They've only been wrong 100% of the time.

Imagine reading this article in its entirety

So G&M wants us to wait until 2050 to start moving away from fossil fuels🤦

The planet will be ruined by then

The coastlines will be deep under water by 2050. Many island nations will no longer exist. Surviving nations will be buried under waves of climate refugees. But sure, let’s just keep pimping for fossil fuel companies for another quarter of a century. 🤷

Maybe.

Must be nice to just say whatever and not be held accountable. Maybe aliens will take over earth on 2045 and by 2050 they wiil have eaten all the humans, your right fossil fuels will no longer be needed.

No they won’t, weren’t we supposed to be out of oil by now?

Just like Germany will run on clean energy and distasteful Russian gas?

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