Will Oil Demand Peak Soon? Trump Administration Doesn’t Want to Hear It. | It is lashing out at the world’s leading energy organization for saying oil and gas use could start declining as the world pivots to cleaner alternatives.

8 comments

1. This now has nothing to do with markets or efficiency. It’s all about the oil companies fearing the stranding of trillions of dollars of assets. The trump administration is in the tank, and doesn’t want to see the assets written off either.

   We have quite a fight ahead.

2. Yes, Oil and Gas are dirty as well as have an energy cost to drill up.

3. It’s going to be coal “clean, beautiful coal” according to the administration

4. Yeah, the US is doubling down on fossil fuels, but everyone else is not.

   Especially China, who we all know is all-in on green energy. Partly because they aren’t dumb, and they realize we have to *live* on this planet. But also partly out of self-interest… they have always been a big net-importer of energy, and going to green energy takes them out of that dependency on anyone else.

   As tech improves, everyone else will want that energy independence (and to save the planet), and oil demand overall will go down as a result. The US will *try* to consume as much as it can, but… when the rest of the plant goes to something, the US can’t cling to it all by itself.

5. Yeah, China is over 50% ev sales for new cars and this is likely to rise. Eventually this is going to replace their combustion cars and push down gasoline use. Obviously there are many uses for oil but rising use of EVs in Asia and Europe is going to be a headwind to demand.

   Anyone projecting growth through 2050s is delusional in my opinion. Looking at you OPEC and ExxonMobil.

6. Th nice thing about all of this is like I have always said: Money always wins. And money will win here. And money says the cheapest energy source wins.

   The reason the USA is panicking about green energy is that, once again, they can’t compete in manufacturing anymore and so they can’t compete in making green energy things. US solar cells won’t be cost competitive. 4 of the 5 top wind turbine makers in the US are foreign-based. GE, the biggest, holds 46% of the market.

   So they are trying to salvage the one thing they have a monopoly on – domestic fossil fuels. Of course this won’t save them.

7. Oil companies are trumps biggest backers. I suspect oil companies have worked with fascist governments around the world and think they can get what they want from them.

8. Of course. He permanently lives in 1965.

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