A physicist by training, Rystad is an optimist about the chance of containing climate change through introducing new technologies. He brings numbers to back up his views, based on the company’s extensive databases.
WHEN ARE WE GOING TO SEE PEAK OIL CONSUMPTION, PEAK FOSSIL FUEL CONSUMPTION?
I think peak coal is very soon. It could even be this year or next year. We are close to peak thermal in China, most likely this year or next, meaning coal and gas electricity generation. China is half of the coal market, so it’s very relevant.
In Europe and the U.S. coal has been trending down for many years. The trend down in Europe and America is balancing the trend up in India and Indonesia and a few other countries and Pakistan, and then China’s peaking. So they are very close to peak coal.
Peak oil, we were in a very good place with EV adoption in Europe and America though it has stalled a little bit due to lack of subsidies. And then we have peak gas, which as you know, consumption is going down in Europe much faster than anyone believed. So taking these three fossil fuels - coal, oil and gas - in aggregate, I think we are talking about maybe the end of this decade will be a peak for fossil, maybe even slightly before.
IS THAT GOOD NEWS?
I think it’s good news, of course. The only way to get rid of oil, gas and coal is to compete with the use of oil, gas and coal through introducing new technologies. So what you need to work on is solar, wind, batteries, geothermal, EVs, etc. All these technologies will make the use of fossil fuel no longer competitive.
WHERE ARE OIL PRICES GOING?
Bu hikaye AppleMagazine dergisinin AppleMagazine #676 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye AppleMagazine dergisinin AppleMagazine #676 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
AMAZON REPORTS BOOST IN QUARTERLY PROFITS.EXCEEDS REVENUE ESTIMATES AS IT INVESTS IN AI
Amazon reported a boost in its quarterly profits and exceeded revenue estimates, sending the company’s stock up in after-hours trading.
SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS
South Korea’s privacy watchdog this week fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers.
CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS
Chinese online retailer Temu is facing a European Union investigation over suspicions it’s failing to prevent the sale of illegal products, the 27-nation bloc’s executive arm said.
CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS
Corning is facing European Union antitrust scrutiny after the bloc’s watchdog said this week it’s investigating the speciality glass maker’s exclusive deals for its Gorilla Glass used in cellphones.
NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT
CVS Health fell short on third-quarter profit, but it posted strong sales and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent shares plunging.
AS THE DATA CENTER INDUSTRY BOOMS. AN ENGLISH VILLAGE BECOMES A BATTLEGROUND
Originally built to store crops from peasant farmers, the Tithe Barn on the edge of the English village of Abbots Langley was converted into homes that preserve its centuries of history.
YOU MAY HAVE BLOCKED SOMEONE ON X BUT NOW THEY CAN SEE YOUR PUBLIC POSTS ANYWAY
Elon Musk’s X has been modified so that accounts you’ve blocked on the social media platform can still see your public posts.
NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE
Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.
THE BEST SMALL SUVS FOR CITY DRIVING
SUVs are popular in part due to their elevated ride height, commanding view of the road, and roomy interiors.
MANY RETAILERS OFFER 'RETURNLESS REFUNDS.' JUST DON'T EXPECT THEM TO TALK MUCH ABOUT IT
It’s one of the most under-publicized policies of some of the biggest U.S. retailers: sometimes they give customers full refunds and let them keep unwanted items too.
