Is The IEA Too Optimistic About The Energy Transition?
In its latest World Energy Outlook, the International Energy Agency stated that thanks to the energy crisis rattling the world right now, demand for fossil fuels would peak, speeding up the transition to renewable energy. But is this just a case of wishful thinking? The IEA—for the first time ever—sees this happening—across all of the scenarios it devised for its forecast. According to even the Stated Policy Scenario—usually the most conservative of the scenarios—demand for fossil fuels would begin permanently declining…