Environment
Dependence on Fossil Fuels to Decline Next Decade
Elaine Fernandez
New projections from the International Energy Agency’s (IEA) yearly World Energy Outlook Report predict that demand for the three fossil fuels — oil, gas and coal — will peak before 2030, marking the first time this decade that the threshold for each fuel is in sight.
IEA predictions are based on several factors, namely, surging growth in clean energy technologies, the repercussions of the global energy crisis and increasing adoption of electric vehicles worldwide, particularly in China.
Additionally, the significant growth of renewables and nuclear power in China - currently the world’s largest coal consumer - also presages an impending drop in coal consumption. However, IEA executive director Fatih Birol cautions that unless states can swiftly implement stronger policies, the projected decline is still insufficient to limit global warming to 1.5C.
