The International Energy Agency has said Russia’s invasion of Ukraine will accelerate a peak in the world’s consumption of fossil fuels, with gas demand now expected to join oil and coal in topping out near the end of this decade.
Fatih Birol, head of the IEA, said the world was fast approaching a “pivotal moment in energy history” as demand for the fossil fuels that have underpinned the modern economy since the advent of the industrial evolution nears an inflection point.
“After rapid growth in gas consumption in the last 10 years, we think the golden age of gas is coming to an end,” Birol said in an interview. “Together with the decline in coal and oil that we were already expecting, we now see a peak around 2030 for all fossil fuels.”
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