{"id":6320,"date":"2015-11-13T15:28:04","date_gmt":"2015-11-13T14:28:04","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=6320"},"modified":"2015-11-13T15:31:41","modified_gmt":"2015-11-13T14:31:41","slug":"one-thing-we-have-learnt-this-week-weo-2015","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=6320","title":{"rendered":"One thing we have learnt this week -WEO 2015"},"content":{"rendered":"<p><a href=\"https:\/\/www.theoillamp.co.uk\/wp-content\/uploads\/2015\/11\/weo2015.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-6328 size-full\" title=\"weo 2015 from the IEA\" src=\"https:\/\/www.theoillamp.co.uk\/wp-content\/uploads\/2015\/11\/weo2015.jpeg\" alt=\"weo2015\" width=\"187\" height=\"98\" \/><\/a>As we fast approach Paris COP21 (which yours truly is cycling to with TEARFUND) the latest IEA WEO 2015 is out.\u00a0 Is peak oil going to mean low oil prices and not high ones?\u00a0 This is one of the suggestions in the latest IEA WEO 2015.\u00a0 The theory goes like this; renewables are now so cheap or will become so the oil, coal and gas prices will stay low.\u00a0 That and a surfeit of oil with both unconventional and conventional producers competing could keep the oil price low into the 2020&#8217;s.\u00a0 Other findings from WEO 2015.<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>Renewables account for around half of all electricity production by 2040.<\/li>\n<li>US shale oil needs a price of $65\/barrel.<\/li>\n<li>Whilst oil and gas prices have fallen in price these price falls are undercut by the more expensive production costs as all the easy to extract fields have been used up.<\/li>\n<li>The cost of energy efficiency has also plunged.<\/li>\n<\/ul>\n<p>WEO 2015 also sees dangers, we will still be fairly dependent on oil and gas even in 2040.\u00a0 Low prices mean no exploration or production for unconventional sources.\u00a0 This and increased demand in particular mean there could be a rebound in oil prices at some unspecified point.\u00a0 Another danger is that low oil prices will lead to less renewables investment.\u00a0 All in all as we go towards COP21 an encouragement. \u00a0 The future is renewable although as we have written in our <a href=\"http:\/\/www.bookdepository.com\/No-Oil-Lamp-Andy-Mellen\/9780232529449\" target=\"_blank\">book<\/a> this is only part of our oil dependency issue.<\/p>\n<p>Neil<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we fast approach Paris COP21 (which yours truly is cycling to with TEARFUND) the latest IEA WEO 2015 is out.\u00a0 Is peak oil going to mean low oil prices and not high ones?\u00a0 This is one of the suggestions &hellip; <a href=\"https:\/\/www.theoillamp.co.uk\/?p=6320\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[5,17,3,4],"tags":[269,275,34,57,61,63],"class_list":["post-6320","post","type-post","status-publish","format-standard","hentry","category-climate-change","category-one-thing-we-have-learnt-this-week","category-peak-oil","category-renewables","tag-climate-change","tag-coal","tag-oil-prices","tag-peak-oil-2","tag-renewable-energy","tag-renewables-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - 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