Even conservative estimates see fossil fuel use peaking soon
Even conservative estimates see fossil fuel use peaking soon
On Sunday, the global climate summit COP27 will convene in Egypt. Bloomberg Green will cover the conference in depth and we’ve been preparing for it, looking at Egypt’s future under a possible 3C of warming and discussing why every election is now a climate election.
Every COP is important for moving decarbonization forward, and for outlining what work still desperately needs to be done. But 2022 marks a first: The talks kick off as energy analysts make a solid case that we’ll hit peak fossil fuel consumption, and soon.
The International Energy Agency’s latest World Energy Outlook leads with what it calls the “first global energy crisis,” a deep and broad set of shocks to the world’s energy system. Russia’s war in Ukraine, supply stresses and extraordinarily high prices mean that consumers worldwide are under alarming pressure.
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