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Politics : Politics of Energy
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From: Alastair McIntosh9/25/2025 7:28:11 AM
   of 86347
 
The world’s appetite for oil may be about to shrink.

You'd think Climate Week – happening simultaneously in the Big Apple through September 28 – would add to the gloom given President Donald Trump’s skepticism of climate change (“the greatest con job ever perpetrated”) and outright hostility toward clean energy (a “scam”). But there's some genuinely good news for the planet buried in all this chaos: We may be at – or very near – peak oil demand.

This isn’t the old “peak oil” story that doomsayers have predicted for decades – the moment when the world runs out of accessible oil. Those theories have been proven wrong time and again – most recently when fracking and other extraction technologies turbocharged the industry’s productivity, unlocked new barrels, and turned the United States into the world’s top producer and exporter. What I’m talking about here is different. We're likely witnessing the moment when global appetite for oil finally starts to wane, driven not by scarcity but by changes in how the world consumes energy.

The most dramatic shift comes from China, whose appetite for fossil fuels kept global oil markets humming for thirty years. Between 2010 and 2020, Chinese oil imports doubled to 10 million barrels per day. That era looks to be over thanks to a demographic transition, a rapidly accelerating energy revolution, and slowing economic growth.

Start with demographics. China’s population peaked during Covid but has since shrunk by nearly 25 million people – roughly equivalent to Denmark, Sweden, and Norway combined – after growing by more than 155 million in the previous twenty years. Fewer people means less demand for gasoline and diesel – especially in a decelerating economy weaning itself off a housing and infrastructure construction binge.
Read the whole article at:
gzeromedia.com
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