A Victory For Fossil Fuels

A few months ago, Exxon Mobil CEO Darren Woods told Yahoo Finance’s Brian Sozzi and Akiko Fujita in an interview that the energy giant will “still be producing oil and gas in 2050 depending on how quickly the world transitions” to green technologies. A new study shows he is almost certainly right.

Heat Levels That Kill –125 Degrees F

The Energy Institute recently released a report titled “A year of record highs in an energy hungry world”, EI Statistical Review reveals.” The authors point out that “Global fossil fuel consumption reached a record high, up 1.5% (driven by coal up 1.6%, oil up 2% to above 100 million barrels for first time, while gas was flat). As a share of the overall mix they were at 81.5%, marginally down from 82% last year.”

Need More Oil

The authors added what should be good news,” Dependence on fossil fuels in major advanced economies is likely to have peaked.” That is at least 25 years off. In the meantime, there eventually.

Climatecrisis247 believes that energy from renewables has not risen enough to offset the need for fossil fuel consumption. Some oil company executives believe this will be true for over a decade. This fact will make slowing climate change all the more difficult.

More from ClimateCrisis 247

• Japanese Conglomerate Invests For AI Electricity Demand
• China Beat US In Nuclear Power Race
• 135 Million Americans Threatened By Extreme Heat
• Biden Ready To Dump Millions Of Barrels Of Oil Into Market