## The Future of Oil, Gas, and Coal Demand ### IGU Report Highlights a Rising Energy Demand The International Gas Union (IGU) released a report projecting a significant increase in global energy demand between 2021 and 2024. According to the report, demand is expected to rise by 27% annually, leading to a total consumption of 586 exajoules by 2024. ### Concerns about Climate Change and the Role of Fossil Fuels Despite the rising energy demand, the IGU report highlights a gap between forecast demand and climate planning. The report suggests that the current energy demand is not fully aligned with climate change goals, raising concerns about the role of fossil fuels in the future. ### Oil and Gas Companies Face Uncertainties The report's findings have implications for oil and gas companies. As energy demand rises, these companies may need to re-evaluate their operations and investment strategies. Questions arise about whether they should diversify away from oil and gas or how far they should pivot towards climate-friendly initiatives. ### Call for Energy Supply and Demand Overhaul The IGU report calls for an overhaul of energy supply and demand. The report suggests a significant reduction in coal and gas demand and a potential decline in oil demand. Such an overhaul would require a shift towards renewable energy sources and a reduction in energy consumption.
Comments