Fossil fuel demand to peak a decade earlier than expected

A new report warns that global demand for fossil fuels will peak a decade earlier than predicted. Whereas the demand for oil and gas were expected to reach their height in the mid-2030s, it now seems as if that time will come much earlier. That’s good news for the environment as renewables look to fill the void that fossil fuels leave behind, but bad news for economies like Saudi Arabia and Venezuela that have economies built largely on oil resources.

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Fossil fuel demand to peak a decade earlier than expected

A new report warns that global demand for fossil fuels will peak a decade earlier than predicted. Whereas the demand for oil and gas were expected to reach their height in the mid-2030s, it now seems as if that time will come much earlier. That’s good news for the environment as renewables look to fill the void that fossil fuels leave behind, but bad news for economies like Saudi Arabia and Venezuela that have economies built largely on oil resources.

Solution News Source

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