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posted by martyb on Tuesday September 22 2020, @11:03AM   Printer-friendly
from the piqued-oil? dept.

Bp Says We'Ve Already Reached Peak Oil:

BP is saying the quiet part loud: In the 2020 Energy Outlook report the energy giant published this week, it said that the world may have reached peak oil.

The covid-19 pandemic has done a serious number on the oil industry, with demand falling to historic lows amid lockdowns and prices falling into negative territory. In a report on Tuesday, the International Energy Agency warned that for the oil industry, the "path ahead is treacherous," reducing its forecast for global oil demand in 2020 by 200,000 barrels per day. And on Monday, OPEC lowered its predictions of demand in 2020 by 400,000 barrels per day.

In BP's new report, analysts said the market may never recover from this damage. The authors lay out three possible scenarios for the world's energy usage between now and 2050, which illustrate a rapid, moderate, and slow transition to renewables. The first two scenarios show demand for oil steeply falling over the next three decades. But even under the firm's most "optimistic" scenario for Big Oil where climate action doesn't accelerate, oil demand will plateau at 2019 levels before declining in 2035.

This is a vastly different picture from the one the firm sketched in its last outlook report just one year ago, which predicted oil consumption would continue to grow over the next decade, peaking sometime in the 2030s.


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  • (Score: 1, Troll) by Runaway1956 on Tuesday September 22 2020, @03:40PM (11 children)

    by Runaway1956 (2926) Subscriber Badge on Tuesday September 22 2020, @03:40PM (#1055002) Homepage Journal

    We're still on track to hit peak whacko, yes. The climate has been changing since the earth was formed. It will continue to change, until there is no earth. Meanwhile, we will adapt, or we will die, or we will find other homes.

    --
    There is a supply side shortage of pronouns. You will take whatever you are offered.
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  • (Score: 2) by DeathMonkey on Tuesday September 22 2020, @03:54PM (3 children)

    by DeathMonkey (1380) on Tuesday September 22 2020, @03:54PM (#1055014) Journal

    or we will find other homes.

    We here in the first world probably won't.

    But all the poor folks whose home just got destroyed are going to need somewhere to go. Might as well come to the Land of the Free, amiright?

    • (Score: 2) by Runaway1956 on Tuesday September 22 2020, @05:28PM (2 children)

      by Runaway1956 (2926) Subscriber Badge on Tuesday September 22 2020, @05:28PM (#1055050) Homepage Journal

      No, we're going to send them all to the asteroids.

      --
      There is a supply side shortage of pronouns. You will take whatever you are offered.
      • (Score: -1, Redundant) by Anonymous Coward on Tuesday September 22 2020, @06:28PM

        by Anonymous Coward on Tuesday September 22 2020, @06:28PM (#1055078)

        Or. more likely, they are going to send you down the drain. Under the form of thoroughly digested soylent green.
        But that would be wasteful, the night soil is a resource.

      • (Score: 0, Informative) by Anonymous Coward on Tuesday September 22 2020, @07:42PM

        by Anonymous Coward on Tuesday September 22 2020, @07:42PM (#1055105)

        Fuck off fascist prick.

  • (Score: 5, Informative) by Dr Spin on Tuesday September 22 2020, @04:08PM (6 children)

    by Dr Spin (5239) on Tuesday September 22 2020, @04:08PM (#1055023)

    We're still on track to hit peak whacko

    Trump being president is evidence that we are getting very close.

    --
    Warning: Opening your mouth may invalidate your brain!
    • (Score: 2) by Runaway1956 on Tuesday September 22 2020, @05:30PM (5 children)

      by Runaway1956 (2926) Subscriber Badge on Tuesday September 22 2020, @05:30PM (#1055052) Homepage Journal

      Someone thought you were funny. I'll give you an informative mod. Trump vs Biden proves that we really are whacko. Trump vs Hillary should have proved that already.

      --
      There is a supply side shortage of pronouns. You will take whatever you are offered.
      • (Score: 0) by Anonymous Coward on Tuesday September 22 2020, @06:03PM (3 children)

        by Anonymous Coward on Tuesday September 22 2020, @06:03PM (#1055068)

        Trump vs Biden proves that we really are whacko.

        You say that now, but wait 'til you see what's on the ticket in another 4 years!

        • (Score: 2) by Runaway1956 on Tuesday September 22 2020, @06:33PM (2 children)

          by Runaway1956 (2926) Subscriber Badge on Tuesday September 22 2020, @06:33PM (#1055080) Homepage Journal

          AOC vs some incel, most likely.

          --
          There is a supply side shortage of pronouns. You will take whatever you are offered.
          • (Score: 0) by Anonymous Coward on Tuesday September 22 2020, @06:43PM (1 child)

            by Anonymous Coward on Tuesday September 22 2020, @06:43PM (#1055085)

            You sure Trump Jr is going to run?

            • (Score: 2) by Runaway1956 on Tuesday September 22 2020, @06:47PM

              by Runaway1956 (2926) Subscriber Badge on Tuesday September 22 2020, @06:47PM (#1055087) Homepage Journal

              I thought Trumpy Jr had a woman. Am I wrong? He certainly has enough money to buy one!

              --
              There is a supply side shortage of pronouns. You will take whatever you are offered.
      • (Score: 0) by Anonymous Coward on Wednesday September 23 2020, @06:22AM

        by Anonymous Coward on Wednesday September 23 2020, @06:22AM (#1055261)

        Someone thought you were funny.

        No one thinks Runaway is funny, anymore. He is the stab in the back to American democracy. He is the Fundie wacko Christian appointed to the Supreme Court. He is the teenager with an assault rifle, assaulting Americans. Runaway is not funny. He still is ignorant, stupid, uneducated and ill informed; he is a lesser American, a hick, a redneck, a hillbilly, a deplorable. All that goes with his demographic. Not too bright, easily manipulated by Murdoch, and Sinclair, and OANN, and other Billionaire "bespoke" alleged "news" outlets. My god, Runaway, you are stupid, and so easily used. I can no longer respect you as an American, nor as a man. Fuck off, Runaway. And I mean that with the utmost sincerity.