Oil companies and OPEC insist that we are going to need their product ad infinitum, but the International Energy Agency said in June this year that “a peak in oil demand is on the horizon” and “Growth is set to reverse after 2023 for gasoline and after 2026 for transport fuels overall.”

The IEA’s latest “World Energy Outlook,” out this week, makes what appears to be a bulletproof case for the looming demise not only of oil, but of coal and natural gas.  Dr. Fatih Birol, Executive Director of the IEA, is unequivocal:  “The transition to clean energy is happening worldwide and it’s unstoppable. It’s not a question of ‘if’, it’s just a matter of ‘how soon’ – and the sooner the better for all of us.” (This echoes what the IEA reported in December of last year in “Renewables 2022.” ) Continue reading →