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Page added on September 29, 2020

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Total sees peak oil demand around 2030 in more conservative view than BP

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Total (TOT -0.9%) forecasts oil demand growth ending near 2030, as it joins the ranks of oil companies anticipating rapid change for the industry and a peak for the industry in the coming decade.

It’s a more conservative outlook than rival BP, which recently projected oil demand could never regain its pre-coronavirus levels.

Energy demand rose in all scenarios considered in Total’s new Energy Outlook report, but most of the gains were seen being satisfied by low-carbon power.

The outlook expects natural gas playing a key role in energy markets for decades to come as a less carbon-intensive bridge fuel.

Total shares have outperformed major European peers even as all three energy firms channel investment into clean energy such as solar and wind, battery technology and car-charging networks:

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4 Comments on "Total sees peak oil demand around 2030 in more conservative view than BP"

  1. madalin stunt cars 2 on Sun, 4th Oct 2020 5:02 am 

    It’s a more conservative outlook than rival BP, which recently projected oil demand could never regain its pre-coronavirus levels.

  2. Cloggie on Sun, 4th Oct 2020 6:10 am 

    After Norway, the Dutch EV-market has reached “early majority” status, with 4 four months more than 16% market share:

    https://cleantechnica.com/2020/10/02/dutch-electric-vehicle-market-enters-early-majority/

    “Dutch Electric Vehicle Market Enters Early Majority”

    In layman’s terms, after Norway, the victory of the e-vehicle in the Netherlands has been secured.

    On the road in my home town I see e-vehicles, mostly Tesla’s, everywhere.

  3. Cloggie on Sun, 4th Oct 2020 6:18 am 

    The renewable energy path of no-return in the Netherlands has been chosen. Grid operators have presented their investment plans up until 2030 to the tune of 40 billion euro. The national grid is going to be substantially renewed and expanded for capacity:

    https://solarmagazine.nl/nieuws-zonne-energie/i22491/netbeheerders-presenteren-definitieve-investeringsplannen-elektriciteitsnet-wordt-rigoureus-verzwaard

    If you want to completely ban fossil fuel, you need to prepare for roughly the supply of twice the amount of electricity as compared to the situation of 1990.

    On top of that you need to replace all conventional heating equipment with electric heat pumps, apply a rigorous thermal insulation program, introduce seasonal solar and industrial heat storage and you’re good. And of course you need to have a chemical energy storage system in place, most likely based on hydrogen or one of its many derivatives.

    A bit like this:

    https://deepresource.wordpress.com/2017/09/16/blueprint-100-renewable-energy-base-for-germany/

    “Blueprint 100% Renewable Energy Base for Germany”

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