• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 16 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 21 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 10 hours Did China cherry-pick the factors that affected the economic slow-down?
  • 5 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 3 days Nord Stream - US/German consultations
  • 409 days Class Act: Bet You've Never Seen A President Do This.
  • 5 days An Indian Opinion on What is Going on in China
  • 2 days Forecasts for Natural Gas
  • 2 days Australia sues Neoen for lack of power from its Tesla battery
  • 5 days Storage of gas cylinders
  • 5 days Can Technology Keep Coal Plants Alive and Well?
Why The World Still Isn’t Ready For An EV Revolution

Why The World Still Isn’t Ready For An EV Revolution

As skyrocketing energy and fuel…

Peak Meat, EVs, and Solar: The World in 2030

Peak Meat, EVs, and Solar: The World in 2030

According to Principles for Responsible…

Hedge Funds Cut Bullish Bets On Oil Amid Profit-Taking

Hedge Funds Cut Bullish Bets On Oil Amid Profit-Taking

Portfolio managers reduced their bullish…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

EIA Sees Solid Global Demand For Oil, Gas And Renewables To 2050

  • If current policy and technology trends continue, global energy consumption and energy-related carbon dioxide (CO2) emissions will increase through 2050 as a result of population and economic growth
  • Production of oil and natural gas are also set to grow over the next three decades, mostly to meet rising energy consumption in developing Asian economies

Global demand for renewables will rise the most through 2050, but demand for petroleum and other liquids and natural gas will also increase, albeit at a slower pace, the U.S. Energy Information Administration (EIA) finds in its International Energy Outlook 2021 out on Wednesday.

The 2021 outlook contains EIA’s long-term projections of energy supply and demand worldwide and by region and source.

If current policy and technology trends continue, global energy consumption and energy-related carbon dioxide (CO2) emissions will increase through 2050 as a result of population and economic growth, the EIA says in its outlook.  

Sales of electric vehicles (EVs) will grow, leading to a peak of the internal combustion engine fleet in developed economies in 2023, and in 2038 globally, according to the U.S. administration.

Yet, despite the rise in EV sales, global energy consumption will continue to grow, leading to growth in global energy-related carbon dioxide emissions through 2050, according to the Reference case in EIA’s outlook.

New electricity generation worldwide will come predominantly from renewable energy sources, but natural gas, coal, and increasingly batteries will still be used to help meet load and support grid reliability, the EIA notes.

“Although new generation will largely be powered by renewables, dispatchable generation sources—such as natural gas- and coal-fired generating technologies as well as batteries—will remain important, especially for grid reliability,” according to the outlook.

Production of oil and natural gas are also set to grow over the next three decades, mostly to meet rising energy consumption in developing Asian economies. Consumption of liquid fuels in emerging Asian countries is expected to nearly double by 2050 compared to 2020 in EIA’s reference case.

Asia is also set to boost its crude and petroleum products imports, which will be primarily met by increased production in the Middle East, the U.S. administration said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads from Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Thanet Forest on October 06 2021 said:
    There will never be a move away from oil.

    The alternatives are costly and inefficient and are unreliable.

    The world needs to accept that oil is our main source of energy forever.
  • Mamdouh Salameh on October 07 2021 said:
    Oil and gas will continue to drive the global economy well into the future or until the last drop of oil and the last particle of natural gas have been extracted.

    The global demand for oil will continue to grow throughout the 21st century and probably far beyond albeit at a slightly decelerating rate because of the growing number of EVs. It will be underpinned by both rising world population and growing global economy.

    Natural gas will also continue to grow as fast as possible because it is the pivot for global energy transition.

    The EIA is wrong in claiming that the internal combustion engine fleet (ICEs) in developed economies will peak in 2023 and globally in 2038. How could this be right when only 10.9 million EVs are on the roads now compared with 2.0 billion ICEs. By 2040 the number of ICEs is projected to hit 2.8 billion.

    Global energy transition and net-zero emissions will never be achieved now or ever. Those who think that by ditching fossil fuels they can accelerate global energy transition are living in the realm of fantasy.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News