‘Peak Oil’ Concerns Unwarranted Since Demand Will Also Decline: Study

Researchers say concerns that humanity will inevitably reach a moment of “peak oil,” which would be followed by a crippling decline in supplies, are unwarranted because global demand for oil is approaching its own peak. READ MORE

 




Using historical data to project future oil demand, researchers from Stanford University and the University of California, Santa Cruz predict that conventional oil demand will decline after 2035 as a result of increased energy efficiency, lower prices for alternative fuel sources, urbanization, and limits on consumption by the wealthy. The researchers also projected a growth of natural gas liquids (NGL) and in so-called unconventional liquid fuels, which come from a variety of sources, such as shale formations, coal-to-liquid refining processes, and biofuels. (Stanford University Environmental Assessment & Optimization Group)



 
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