Redefining Energy 151. Peak Fossil Fuels - Sep24
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Sep 23, 2024 Join Kingsmill Bond, a respected Energy Strategist at RMI, as he challenges ExxonMobil's predictions about future oil demand. He argues that the fossil fuel sector is underestimating the rapid energy transition. The discussion covers the exciting potential for the Global South to leapfrog fossil fuels with renewables like solar and wind. Bond shares insight on clean technology advancements and how they may peak fossil fuel demand sooner than expected. Ultimately, he emphasizes an optimistic outlook for a sustainable energy future despite current pessimism.
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Exponential Clean-Tech Disruption
- Clean energy technologies are growing exponentially and are large enough to disrupt the fossil fuel system this decade.
- This will push fossil fuel demand into permanent decline by the end of the 2020s.
Multiple Early Peaks Signal Transition
- Multiple components of the fossil system have already peaked: OECD fossil demand (2007), industrial sector (2014), and ICE car demand (2018).
- These successive peaks are typical signs of a systemic transition driven by new technologies.
Watch China To Predict EV Adoption
- Track the S-curve adoption in China because it sets global EV trends and drives cost declines that spread globally.
- Expect electric vehicle market share to move towards near 100% of sales in China by the end of this decade.