IEA: Global demand for coal, oil and gas to peak by 2030

Global demand for fossil fuels will peak by 2030. More electric cars will be on the roads, and China's economy will grow more slowly while becoming more focused on cleaner energy. This also calls into question the case for increasing investment in fossil fuel production. The International Energy Agency (IEA) said this today in its report on the global energy outlook.

The report contrasts with the view of members of the Organization of the Petroleum Exporting Countries (OPEC). They expect demand to continue growing long after 2030 and are calling for new investment in the oil sector worth trillions of dollars.

The IEA said its scenario is based on current government policies. For the first time, these point to demand for oil, natural gas and coal peaking this decade, the agency said.

„The transition to clean energy is continuing around the world and is unstoppable. The question is not ‚whether‘ but ‚how soon‘ – and the sooner, the better for all of us,“ said IEA Executive Director Fatih Birol.