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Peak Oil Demand May Be Ten Years Away

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The world is past peak coal consumption and may reach peak oil consumption within the next ten years, Alexei Kudrin, the head of the Russian Accounts Chamber, told media this week.

The official noted Russia will need to learn to rely less on oil export revenues over these next ten years. Otherwise, Kudrin added, this will become a serious problem in 20 years.

Meanwhile, investments are necessary now to diversify the Russian economy away from oil, Kudrin said, noting steps being made in that direction, specifically in the digitalization of the economy and in science and innovation.

“Maybe we should have started working in that direction a bit sooner,” the official said.

The remarks of the Accounts Chamber’s head echo earlier comments made by Russia’s deputy financial minister.

“The peak of consumption may have already passed,” Vladimir Kolychev told Bloomberg in an interview last year. “The risk is rising in the longer term.”

Russia has been paying more attention to the prospect of peak oil demand recently, with the head of the energy committee at the Russian parliament, the Duma, saying in April that “Everything that can be produced should be produced while there is still demand to sell it.”

Like other large oil exporters, Russia will be seeking to monetize as much of its oil and gas resources as quickly as it can.

Russia is one of the three biggest oil exporters in the world, alongside Saudi Arabia and the United States. It has enough oil to keep producing at current rates at least until 2080, with enough gas reserves to last for another 103 years. And the state is pouring billions—$110 billion to be precise—into developing new oil reserves in eastern Siberia to tap 100 million tons of new crude annually. That’s about a fifth of the country’s annual output in 2019.

By Irina Slav for Oilprice.com



5 Comments on "Peak Oil Demand May Be Ten Years Away"

  1. Duncan Idaho on Sun, 6th Jun 2021 12:49 pm 

    Hint:
    Global peak oil production was in November of 2018.
    That is disappearing into the rear view mirror.
    We could surpass it (most oil producers doubt it, but some think we can)
    Don’t hold your breath

  2. Theedrich on Thu, 10th Jun 2021 1:55 am 

    Bidey wants a nation of parasites. Dark ones. So they will muliply and produce a one-party state run by Democrat Marxists and vulture-capitalist criminals.  Like the rest of his family and the media + tech demigods.

    America is finished.  The sludge and reptiles, the foreign mafias, drug smugglers, and subhuman importers have usurped power.  People smuggling and teenage prostitution are all the rage.  Burning down cities in anti-White riots is the new enterainment.  The electorate wants more of it, and so votes Democrat.

    Whitey, hornswoggled by Christianity, accepts it all.  So that he will be worthy of the promises of Jeezus — and be rewarded postmortemly with eternal orgasm in the grave.

    It is never mentioned by the mainstream Jewbox that Bidey is hollowing out the American economy by lavishing vast sums of taxpayer money on his kleptomaniac bribers.  Or that the $trillions being sucked out by crony capitalists from the military-industrial complex to the “green energy” scammers and other fakeries hiding behind “infrastructure” frauds are bankrupting the nation permanently.  One mathematics-friendly investigator of the expenditures proposed by the prez and his satanic phalanxes estimates conservatively that, if the illegitimate POTUS’s spending bills are implemented, in a decade the national debt will be $40 trillion.

    Many Republicans are in bed with this, insofar as they they seek part of his felonious largesse and so do not expose Bidey’s criminality.  Meanwhile, in 2020 the estimated number of deaths from drug overdoses was 90,000, outpacing gun deaths and traffic deaths in the lethality game.  And the band plays on.

    In short, America is a rotting cadaver.  The judiciary is useless, fantasizing about an abstract “social justice” and releasing felons, even as dictatorship, corruption and despotism take place under the judges’ very noses.  The justices themselves are often in on the game, denying the reality of sexual (let alone racial) differences and the Democrat corruption of the electoral machinery.  The courtiers are immersed in hair-splitting fine points of Constitutional mythology even as mass murders, demographic invasion and anti-White Communist subversion overwhelms life nationwide.

    Disintegration is the fact, even as wonderfulness and promissory holiness are the illusion.

  3. Biden's hairplug on Thu, 10th Jun 2021 6:49 am 

    “Bidey wants a nation of parasites. Dark ones. So they will muliply and produce a one-party state run by Democrat Marxists and vulture-capitalist criminals. Like the rest of his family and the media + tech demigods.”

    Entirely right.

    “America is finished.”

    In its present shape, yes, correct.
    But it doesn’t suffice to conclude this, and then in despair roll over and die.

    A plan B must be crafted. And that plan B can only be secession.

    How to get there?

    Apart from the NRA, there is no serious pro-white organization, although the Republican Party could become one. Surprisingly, they didn’t revert to pre-Trump BAU, but Trump has the party still under control, more or less. But the events on January 6 have shown that more than a demo, can’t be expected from “white resistance”, such is the nefarious influence of classic American
    atomized individualism, an attitude that can be used to conquer an empty continent, but in 2021 it is a self-defeating attitude.

    Interesting that I note a clear tendency of many white North-Americans to begin to interest themselves in Europe, something they thought was beneath them in “exceptional times”, times that are no more.

    https://www.youtube.com/watch?v=A0qUx7_PrTo

    “How I look at the United States after 10 years in Europe – Jovie’s Home”

    https://www.youtube.com/watch?v=DO5x_tJBn7w

    “How I See the US After Living Abroad for 15 Years”

    After the last Eurovision Song Contest, there was a lot of American interest in the event. This American guy began to interest himself for Dutch popular music, the Dutch public was all too willing to forward to him:

    https://www.youtube.com/watch?v=lWKOBXh727A

    This Canadian guy moved to the Netherlands and plans to stay there:

    https://www.youtube.com/watch?v=ul_xzyCDT98

    “Why We Won’t Raise Our Kids in Suburbia (and moved to the Netherlands instead)”

    None of these people are America haters, but they are fed up with certain aspects of American culture they don’t like:

    – cut-throat mentality in all walks of life
    – unaffordable health care
    – rip-off in rented housing
    – vast economic inequality; the US is a heaven for the rich, but not for the average white guy
    – low US taxes leads to bad infrastructure, mediocre internet, blackouts, third world airports, no modern trains

    What all these people above avoid like the plague is the topic of race.

    Back to secession… at the moment unthinkable. There is even a higher chance that a Blue State like California will initiate a wave of secessions than a Red State. The only strategy seems to be to wait for the moment that China feels strong enough to challenge the US in East-Asia. This is likely to happen later this decade. If China prevailed in that confrontation, which is likely, the nimbus of US invincibility and exceptionalism would be broken for good. The EU would approach Russia to fill the power vacuum. THAT could be the moment for white America to finally secede from Washington, certainly if Washington would require whites to fight for them in a major war in East-Asia. These white nationalists could expect help from continental Europe, not unlike what happened in “1776”.

  4. ralfy on Sat, 12th Jun 2021 5:37 am 

    71 pct of human beings live on less than $10 a day. 71 pct of human beings want to earn that, and more, and spend on various goods and services. The amount of oil needed to cover that exceeds what’s available.

  5. find a word on Wed, 16th Jun 2021 3:57 am 

    The Vladimir Kolychev told Bloomberg in an interview last year. “The risk is rising in the longer term.

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