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Oil and gas.
The maximum global total demand for oil and gas.
Peak demand has not yet been reached.
'Peak demand' new worry for fossil fuel producers
- "Remember 'peak oil'? ...
- It never happened. In the event, more and more oil and gas keeps being discovered...
- This has given rise to a new worry for fossil-fuel producers - 'peak demand'. Already, demand for hydrocarbons in advanced economies is beginning to fall. Rising use in the developing world ensures that, overall, global consumption should continue to grow for some years to come yet, but the peak may be much closer than generally appreciated...
- Renewables are very unlikely to replace hydrocarbons entirely... But we could be looking at a much swifter decline than generally imagined, with big implications for the price of oil and, therefore, the future of its main producers."
- The Treasurer magazine, March 2017, p15 - Jeremy Warner, assistant editor of The Daily Telegraph.