{"id":7895,"date":"2015-05-07T06:16:24","date_gmt":"2015-05-07T11:16:24","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7895"},"modified":"2015-05-07T06:16:24","modified_gmt":"2015-05-07T11:16:24","slug":"why-the-worlds-appetite-for-oil-will-peak-soon","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7895","title":{"rendered":"Why the World\u2019s Appetite for Oil Will Peak Soon"},"content":{"rendered":"<h3 class=\"wsj-article-headline\"><a href=\"http:\/\/www.wsj.com\/articles\/why-the-worlds-appetite-for-oil-will-peak-soon-1430881507\" target=\"_blank\">Why the World\u2019s Appetite for Oil Will Peak Soon<\/a><\/h3>\n<p class=\"sub-head\"><strong>The conventional wisdom about steadily rising demand is wrong. Within two decades, global oil use will start to fall.<\/strong><\/p>\n<p>When it comes to oil demand, the conventional wisdom is clear: Population growth and a rising global middle class guarantee that demand\u2014and prices\u2014will rise over the coming decades. It is a story line that is almost universally accepted by investors, governments and industry alike.<\/p>\n<p>But like many such consensus views, it is one that should be treated with caution.<\/p>\n<p>The world\u2019s economy is experiencing transformational changes that, I believe, will dramatically alter patterns of energy use over the next 20 years. Exponential gains in industrial productivity, software-assisted logistics, rapid urbanization, increased political turmoil in key regions of the developing world, and large bets on renewable energy are among the many factors that will combine to slow the previous breakneck growth for oil.<\/p>\n<p>The result, in my opinion, is as startling as it is world-changing: Global oil demand will peak within the next two decades.<\/p>\n<p>&nbsp;<\/p>\n<h4>A less potent weapon<\/h4>\n<p>The geopolitical and economic implications of peaking demand will be huge. The fall in the importance of Saudi Arabia is already palpable, with all the major powers from the U.S. to China more willing to accommodate Saudi archrival Iran. In addition, Russia\u2019s ability to use oil as a weapon will wane, as will the economic leverage of the Organization of the Petroleum Exporting Countries. As economic growth becomes increasingly disconnected from oil, world powers will likely shift their attention to other increasingly scarce resources that will be equally critical to economic well-being, such as food, water and minerals. A greater interest in Africa, for example, is already starting to emerge.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why the World\u2019s Appetite for Oil Will Peak Soon The conventional wisdom about steadily rising demand is wrong. Within two decades, global oil use will start to fall. When it comes to oil demand, the conventional wisdom is clear: Population growth and a rising global middle class guarantee that demand\u2014and prices\u2014will rise over the coming [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1108,588,589,5225,600,5224,674,701],"class_list":["post-7895","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-energy-use","tag-oil","tag-oil-demand","tag-oil-peak-demand","tag-opec","tag-peak-demand","tag-renewable-energy","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7895"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7895\/revisions"}],"predecessor-version":[{"id":7896,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7895\/revisions\/7896"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}