Global oil demand could peak by the end of the next decade even as global economic growth climbs. The latest downward revision to forecasts, from consulting firm McKinsey, could leave major new investments uneconomic if demand for energy fails to meet expectations. McKinsey said it has cut its forecast for growth in demand to 0.8pc a year to 2040, “well below mainstream base case perspectives”, including its own estimate of 1.1pc made last year. Demand for oil is expected to grow even more slowly beyond 2025, with the research pointing to a possible peak of 100m barrels a day by 2030, from current levels of 94m. Major investments in the energy system may no longer be needed and some could be at risk of being stranded.
Telegraph 6th June 2016 read more »
Two investors are betting they can make a profit from coal by burning hardly any of it. Daniel Kretinsky, 40, and Patrik Tkac, 43, are trying to capitalize on Europe’s rapid expansion into renewables by embracing the fuel, a mainstay of European energy before efforts to curb global warming, in its new role as a backup for when the wind dies down and the sun fails to shine.
Bloomberg 3rd June 2016 read more »