{"id":7443,"date":"2017-02-01T19:36:03","date_gmt":"2017-02-01T18:36:03","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=7443"},"modified":"2017-02-01T19:40:15","modified_gmt":"2017-02-01T18:40:15","slug":"peak-oil-mean-peak-supply-demand","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=7443","title":{"rendered":"Does peak oil mean peak supply or demand?"},"content":{"rendered":"

\"BP<\/a>Does peak oil mean peak supply or demand?\u00a0 This is the question raised by the latest BP energy outlook<\/a>.\u00a0 BP see oil demand still growing in 2035 despite an enormous increase in the numbers of electric cars.\u00a0 BP have a reputation for being pessimistic and have consistently understated the rise of renewables.\u00a0 Other predictions they make are that the rise in energy demand and demand for oil will rise more slowly than historically (although looking at the graphs above this requires a little imagination).\u00a0 Gas demand will grow faster than oil and coal demand will collapse.\u00a0 Carbon emissions will slow but still grow.\u00a0 This is different to what has happened over the last two or three years where despite growth in the world economy emissions have flatlined.\u00a0 Renewables installation will grow rapidly far faster than all the above.\u00a0 Other companies involved in the oil and gas industry see peak demand within 5 years (Shell) or “well before 2035” (Wood Mckenzie).<\/p>\n

The question is does peak oil mean peak supply or demand?\u00a0 If BP are right then Peak oil as a concept in the traditional sense has not gone away but is just sleeping.\u00a0 BP state that supply will grow by 13Mbd by 2035 most of which comes from OPEC. \u00a0 They seem to see supply as abundant.\u00a0 The question is is all this supply all economic and can OPEC really supply all this extra oil making up for reserves which must start declining over the next decade or so?\u00a0 If the others are right peak oil means peak demand falling before we get to running out of oil and gas.<\/p>\n

Of course one big elephant in the room is Trump.\u00a0 If his mixture of protectionism, relaxation of fuel standards on US built cars and all out support for oil\/gas\/coal goes full ahead then fossil fuel demand will soar along with prices and we could be back to 2008.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

Does peak oil mean peak supply or demand?\u00a0 This is the question raised by the latest BP energy outlook.\u00a0 BP see oil demand still growing in 2035 despite an enormous increase in the numbers of electric cars.\u00a0 BP have a … Continue reading →<\/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":[5,3,4,1],"tags":[57,61,63],"class_list":["post-7443","post","type-post","status-publish","format-standard","hentry","category-climate-change","category-peak-oil","category-renewables","category-uncategorized","tag-peak-oil-2","tag-renewable-energy","tag-renewables-2"],"yoast_head":"\nDoes peak oil mean peak supply or demand? - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=7443\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=7443\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=7443\",\"name\":\"Does peak oil mean peak supply or demand? 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