IEA: Global Demand for Fossil Fuels Peaks or Stables for the First Time

In the scenarios in the World Energy Outlook 2022 report published by the International Energy Agency, the global demand for each fossil fuel shows a peak or stagnation for the first time. According to the study, the world is grappling with the energy crisis with very little clean energy. A faster transition to clean energy could have helped mitigate the impact of this crisis; wind, solar, and energy efficiency represent the best way out of the crisis because fossil fuel projects will not solve the energy crisis. New conventional oil and gas field approvals received today will not help meet these urgent needs. In addition, increases in coal use are expected to be temporary and replaced by renewable energy sources as the crisis subsides.