Comments

  • 1.

    One target that they will meet is cessation of crude oil consumption. The world has reached peak oil

    "An Oil Giant’s Case for Peak Demand, Even Without Climate Heroics" - Bloomberg News

    "One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios for the future of global fuel and electricity demand, and it’s a big admission in its own right. Even bigger is the way BP concludes it will happen: not because of aggressive policies aimed at reaching net-zero global greenhouse gas emissions by 2050, nor as a result of carbon prices or other interventions aimed at limiting global temperature rise to 2° Celsius over pre-industrial levels. No, BP says that even if energy policy keeps evolving at pretty much the pace it is today, oil demand will still start declining."

    So unless the world starts to exploit low-quality hydrocarbons, at least the climate change part of the equation will be solved by nature itself -- crude oil is a finite & non-renewable fossil fuel. Of course, there are other problems ahead of us.

    Comment Source:One target that they will meet is cessation of crude oil consumption. The world has reached peak oil ["An Oil Giant’s Case for Peak Demand, Even Without Climate Heroics" - Bloomberg News](https://www.bloomberg.com/news/articles/2020-09-17/bp-sees-peak-oil-even-without-major-new-laws-on-climate-change) > "One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios for the future of global fuel and electricity demand, and it’s a big admission in its own right. Even bigger is the way BP concludes it will happen: not because of aggressive policies aimed at reaching net-zero global greenhouse gas emissions by 2050, nor as a result of carbon prices or other interventions aimed at limiting global temperature rise to 2° Celsius over pre-industrial levels. No, BP says that even if energy policy keeps evolving at pretty much the pace it is today, oil demand will still start declining." So unless the world starts to exploit low-quality hydrocarbons, at least the climate change part of the equation will be solved by nature itself -- crude oil is a finite & non-renewable fossil fuel. Of course, there are other problems ahead of us.
  • 2.

    Don't we have enough peak conditions on the table that we now have a stochastic situation?

    Comment Source:Don't we have enough peak conditions on the table that we now have a stochastic situation?
  • 3.

    More likely, a conflation of events, with one rising to the top.

    Comment Source:More likely, a conflation of events, with one rising to the top.
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