Oil demand growth is set to significantly slow by 2028 thanks to the use of more EVs.

J

Joe Capitalist

Racism is a disease
Oil demand growth is set to significantly slow by 2028.

According to the International Energy Agency (IEA), the use of oil for transport will go into decline after 2026 thanks to the use of more electric vehicles, an increase in biofuels, and reduced consumption.

It predicted on Wednesday that demand growth in China is also forecast to slow from next year onwards, particularly as the rebound in demand after the pandemic subsides.
“The downturn in advanced economies renders the global outlook even more dependent on China’s post-COVID pandemic reopening being able to maintain its early momentum, which should eventually lift global trade and manufacturing,” the agency said,
It highlighted that Beijing’s “pent-up” consumption will peak mid-2023 after a 1.5 million-barrels-per-day rebound but lose momentum to just an average 290,000 barrels per day year-on-year from 2024 to 2028.
However, overall consumption is expected to be supported by strong petrochemicals demand, its new medium-term report said. Consumption in 2024 will grow at half the rate seen in the prior two years, it added.
Read more: FTSE 100: Shell to cut spending and raise dividends
Higher prices, and concerns about security of supply after Russia’s invasion of Ukraine, will also speed the shift towards cleaner energy technologies and away from fossil fuels.
The IEA has forecast that global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day, amid robust demand from the petrochemical and aviation sectors.
But annual demand growth is expected to shrink from 2.4 million barrels per day this year, to just 0.4 million per day in 2028.
“The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance,” IEA executive director Fatih Birol said.
She added that oil producers need to pay “careful attention to the gathering pace of change” and calibrate their investment decisions accordingly, to “ensure an orderly transition.”
 
The energy companies decide the price. OPEC is talking a million barrels a day off production. And you will be happy to pay a higher price.
 
Tinkerpeach said:
And the stress on our power grid is increasing meaning more fossil fuels are required to keep up with the pace
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Did you hear that on FoxNews or NewsMax?

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A kilowatt used is a kilowatt produced, regardless of where and how it is produced. If vehicle use remains constant, and the energy used by those vehicles remains constant, the amount of power needed remains constant whether it's produced in a ICE engine or an electrical generating station. Since solar and wind cannot supply our energy needs, that means its either nuclear or fossil fuel that does. With nuclear being a pariah of the envirotard Left, that means fossil fuel.
 
...and now some more cut and pasting by Joe Capitalist:
Joe Capitalist said:
]Oil demand growth is set to significantly slow by 2028.
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Fortune telling. Tell me...did they use Holy Entrails or Crystal Balls?
Joe Capitalist said:
According to the International Energy Agency (IEA), the use of oil for transport will go into decline after 2026 thanks to the use of more electric vehicles, an increase in biofuels, and reduced consumption.
Click to expand...
Oh....a liberal blog.
Joe Capitalist said:
It predicted on Wednesday that demand growth in China is also forecast to slow from next year onwards, particularly as the rebound in demand after the pandemic subsides.
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China is entering a period of economic chaos, and probably going back to violent revolution after violent revolution. That slows demand, you know.
Joe Capitalist said:
“The downturn in advanced economies renders the global outlook even more dependent on China’s post-COVID pandemic reopening being able to maintain its early momentum, which should eventually lift global trade and manufacturing,” the agency said,
Click to expand...
No momentum. Apparently you aren't aware that China's workforce is largely retiring and many are trying to flee China. They see the writing on the wall.
Joe Capitalist said:
It highlighted that Beijing’s “pent-up” consumption will peak mid-2023
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There isn't any.
Joe Capitalist said:
after a 1.5 million-barrels-per-day rebound but lose momentum to just an average 290,000 barrels per day year-on-year from 2024 to 2028.
Click to expand...
That happens when your nation's economy goes to shit.
Joe Capitalist said:
However, overall consumption is expected to be supported by strong petrochemicals demand, its new medium-term report said. Consumption in 2024 will grow at half the rate seen in the prior two years, it added.
Read more: FTSE 100: Shell to cut spending and raise dividends
Click to expand...
More fortune telling.
Joe Capitalist said:
Higher prices, and concerns about security of supply after Russia’s invasion of Ukraine,
Click to expand...
Russia is not a significant factor.
Europe tend to get it's oil from the OPEC. The States of America get their oil domestically or from other nations on the American continent.
Joe Capitalist said:
will also speed the shift towards cleaner energy technologies and away from fossil fuels.
Click to expand...
Oil is not a fossil. Oil is a renewable fuel. It can also burn quite cleanly.
This is just Church of Green BS again.
Joe Capitalist said:
The IEA has forecast that global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day, amid robust demand from the petrochemical and aviation sectors.
But annual demand growth is expected to shrink from 2.4 million barrels per day this year, to just 0.4 million per day in 2028.
Click to expand...
So increased demand is shrinking demand....gotit.
Joe Capitalist said:
“The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance,” IEA executive director Fatih Birol said.
Click to expand...
EVs are not a source of energy, and they are very wasteful of energy.
Joe Capitalist said:
She added that oil producers need to pay “careful attention to the gathering pace of change” and calibrate their investment decisions accordingly, to “ensure an orderly transition.”
Click to expand...
There is no 'transition'.
 
Conservatives always come out against sustainable, domestic sources of energy.

It's like their new "anti-business, anti-jobs" stance. Just weird.
 
Tinkerpeach said:
And the stress on our power grid is increasing meaning more fossil fuels are required to keep up with the pace
Click to expand...

Even worse.

Transmitting power to that charger requires multiple steps, all of which generate waste heat (and lost energy).

The energy source required to turn the generator shaft is typically coal, natural gas or oil. While this step is efficient, about half of that energy is lost as waste heat. About the same as a modern gasoline car.

The generator itself generates waste heat. This is caused by the current flowing in the windings of the generator. All wires are also resistors.

The transformer to step it up to the high tension lines generates waste heat. These are oil cooled with fans and stuff for a reason.

The high tension lines also lose a lot of energy to waste heat. Yes, it's high voltage (typically around 800kV), reducing the current in those wires causing that heat, but current is still there. It can be so bad on overloaded lines that the line actually begins to lengthen (and sag) from the heat. If that line touches a tree or something below it, the breakers on the line will shut off the current entirely.

The transformers at the substations also generate heat, just like the ones at the power plant do. They must likewise be cooled.

Distribution lines also generate waste heat. Their voltage is lower (only 7.2kV), so more of it is in current.

The distribution transformer at the charging site (whether it's a home or a shopping mall) also generates waste heat. These transformers don't usually require fans, but they are oil filled and cool by simple convection, conduction, and radiance.

The charger, which must convert to a compatible voltage for the car, also generates waste heat. In homes, the line to drive the charger circuit is like installing a line for a welder. These lines are installed in garages too, and must meet special code requirements for their installation there. Generally not a do it yourself kind of job. T.A. Gardner is an electrician. He can probably answer any questions on these code requirements for you pretty well, at least for residential installations.

Then, of course, is the waste heat generated by the car's batteries, both when they charge, and again when they discharge. Moving ions around generates heat. Those suckers are heavy compared to the electrons produced by the battery. In many EVs, including Tesla, the batteries are liquid cooled for this reason...with a radiator and everything.

The motor also generates waste heat. Tesla motors are oil cooled, with radiators and everything.

After that, it's the usual heat generated by tire friction and transmission friction (yes, Teslas have transmissions...a fixed gear system designed to transmit power from the motor to the wheels.

Gasoline engines just burn the fuel. Only one step roughly equivalent to what the power plant does to generate power. After that, the usual driveline friction and tire friction.

ICE cars wind up using only about half the energy of an EV.



The SDTC (The Socialist Dictatorship of the Territory of California) has systematically been removing it's power generating capacity. They import most of their power now from the WRIC (Western Regional Interconnect) serving New Mexico, Arizona, Nevada, Idaho, Oregon, Washington, and two provinces in Canada. Those power lines they import power through are heavily overloaded now. Hot temperatures make them sag even further, and the possibility of them disconnecting because they touched a nearby tree or something means BLACKOUT (and probably a brush fire). The WRIC will NOT sacrifice itself to save California.

The SDTC is also systematically outlawing anything to do with gasoline engines...everything from garden tools (trimmers, mowers, generators, etc), to cars to semi-trucks.
There is no semi-truck EV. They are not practical.

This means that the SDTC will find itself out of power, no way to generate it locally, almost nothing shipping into, out of, or through the SDTC, no way to even pump water reliably. It's only a matter of time before the wind up sitting in their hot houses some summer day, no AC, no way to charge the car, no way to generate power to cope, and quite possibly rationed food and even water, with the brush fires burning unchecked outside.

That will be a day of some serious navel gazing and maybe finally realizing the hell they dropped themselves into.
 
T. A. Gardner said:
A kilowatt used is a kilowatt produced, regardless of where and how it is produced. If vehicle use remains constant, and the energy used by those vehicles remains constant, the amount of power needed remains constant whether it's produced in a ICE engine or an electrical generating station. Since solar and wind cannot supply our energy needs, that means its either nuclear or fossil fuel that does. With nuclear being a pariah of the envirotard Left, that means fossil fuel.
Click to expand...

(meaning coal, oil, or natural gas, even though none of them are fossils)
 
BartenderElite said:
Conservatives always come out against sustainable, domestic sources of energy.

It's like their new "anti-business, anti-jobs" stance. Just weird.
Click to expand...

You are describing Democrats. Democrats aren't conservatives, retard.

* It is DEMOCRATS that begin the current economic depression in 2019 with their anti-business and anti-jobs attitude.
* It is DEMOCRATS behind bans on oil drilling, permit cancellations, and curtailing domestic supplies of coal, oil, natural gas, nuclear power, and hydroelectric power.
 
BartenderElite said:
Conservatives always come out against sustainable, domestic sources of energy.

It's like their new "anti-business, anti-jobs" stance. Just weird.
Click to expand...

The Republiclowns have an anti-everything-that's-good-for-America stance because if it's good for America, then President Biden could get credit for it and the Republiclowns can't have that.
 
BartenderElite said:
Conservatives always come out against sustainable, domestic sources of energy.

It's like their new "anti-business, anti-jobs" stance. Just weird.
Click to expand...

I want "sustainable" energy. That means nuclear backed by natural gas with hydrogen or ammonia as our portable fuel, assuming you want minimum CO2. Solar and wind are total losers and should be dropped entirely. Nuclear is "renewable" in that you can run breeder reactors to make more fuel than you use. Fusion down the road is a next generation winner.

Just remember,

In 1920 oil was just becoming the big energy source
In 1820 coal was just becoming the big energy source
In 1720 we chopped down trees to make energy

In Germany, wood is becoming a major residential heat source again. How backwards is that?

In 2020 it should be nuclear power is the big energy source. Instead, we have anti-science and engineering envirotards pushing useless solar and wind because they are too stupid to understand the physics, math, and chemistry that goes into cheap energy production.
 
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