[AdamB]

The International Energy Agency raised its forecast for global crude oil demand for 2023 in its Oil Market Report for February. Citing the re-opening of China’s economy as the main driver of rising demand, IEA analysts raised the 2023 forecast to 101.9 million barrels per day (bpd), an increase of 200,000 bpd from the agency’s January report.

IEA Raises Global Oil Demand Forecast Again

[theluckycountry]

The Us has been consuming less and less oil as the years go by, just like Brazil and Venezuela and other nations in economic decline. China is on the rise though, where the manufacturing goes, so goes the increased standards of living.

[AdamB]

The Us has been consuming less and less oil as the years go by, just like Brazil and Venezuela and other nations in economic decline.

The "economic decline" of the US in one graphic.

China is on the rise though, where the manufacturing goes, so goes the increased standards of living.

Well, while the US is the world's largest producer of oil and gas, largest exporter of LNG, the 2nd largest manufacturing economy in the world, largest exporter of agricltural products in the world, and can probably win a war against most countries on the planet by dropping lead plated packets of dollar bills on them from space if necessary, we'll just have to wait awhile for that smaller Chinese economy to catch up on all those other things they aren't.

And Americans will never forget that when less fortunate countries of no importance need a little help, Americans will happily continue selling them the fighter, lift, patrol and military aircraft they can't build, or submarines they they can't figure out, cars they can't build because all those wheels...so confusing...and launch small science experiments into space for their universities so they can use pretty pictures of what it's like there to take back to the children being raised as mine labor and give them hopes and dreams that in a century or two, maybe they too can...build their own cars perhaps? Or perhaps a Ferris Wheel?

[ralfy]

Around 70 pct of heavy equipment for mining, up to half of energy for manufacturing, the bulk of energy for shipping, which involves extensive supply chains spanning numerous countries, mechanized agriculture, and petrochemicals needed for thousands of applications, involve fossil fuels.

[AdamB]

Around 70 pct of heavy equipment for mining, up to half of energy for manufacturing, the bulk of energy for shipping, which involves extensive supply chains spanning numerous countries, mechanized agriculture, and petrochemicals needed for thousands of applications, involve fossil fuels.

You make a good case for fossil fuels continuing to come in handy! Good thing that peak oilers were ignorant about technology, geology and econoimcs when they claimed it is/was/had happened the first 5 times this century then, or the world might be hurting!

The good news is that, within the range of real prices we can suppose that might be available, there is no geologically based resource requirement that a real live peak oil happen in the first half of this century. We really should generate a peak oil through slackening demand, if the eco-friendly folks want to have a planet worth living on though. Get past the halfway point of this century though, and I don't know, our world's renewable buildout had better be getting some traction.