{"id":371577,"date":"2025-03-24T09:01:15","date_gmt":"2025-03-24T08:01:15","guid":{"rendered":"https:\/\/climatescience.press\/?p=371577"},"modified":"2025-03-24T09:01:17","modified_gmt":"2025-03-24T08:01:17","slug":"beware-flawed-energy-assumptions-incite-delusional-scenarios","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=371577","title":{"rendered":"Beware: Flawed Energy Assumptions Incite Delusional\u00a0Scenarios"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"413\" data-attachment-id=\"371602\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371602\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?fit=1260%2C720&amp;ssl=1\" data-orig-size=\"1260,720\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"0,1688560056712\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?fit=723%2C413&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?resize=723%2C413&#038;ssl=1\" alt=\"\" class=\"wp-image-371602\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?resize=1024%2C585&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?resize=300%2C171&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?resize=768%2C439&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?resize=1200%2C686&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?w=1260&amp;ssl=1 1260w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"https:\/\/rclutz.com\/2025\/03\/22\/beware-flawed-energy-assumptions-incite-delusional-scenarios\/\">Science Matters<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By\u00a0<a href=\"https:\/\/rclutz.com\/author\/ronaldrc\/\">Ron Clutz<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"378\" data-attachment-id=\"371578\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371578\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-588.png?fit=972%2C508&amp;ssl=1\" data-orig-size=\"972,508\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-588.png?fit=723%2C378&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-588.png?resize=723%2C378&#038;ssl=1\" alt=\"\" class=\"wp-image-371578\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-588.png?w=972&amp;ssl=1 972w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-588.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-588.png?resize=768%2C401&amp;ssl=1 768w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Mark P. Mills and Neil Atkinson blow the whistle on projections written in International Energy Agency\u2019s (IEA) latest report, the World Energy Outlook.&nbsp; Below is the announcement of the report findings, key exhibits and Executive summary, excerpts in italics with my bolds and added images. Link to full study at the end.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Overview<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Industry players consider the International Energy Agency\u2019s signature annual report, the World Energy Outlook, to contain highly credible analyses. However, a new&nbsp;<strong>critique<\/strong>&nbsp;from the National Center of Energy Analytics experts&nbsp;<strong>finds the IEA\u2019s latest scenarios on future oil demand to be problematic and potentially, dangerously wrong.&nbsp;<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cWhen it comes to policy or investment planning, there is a distinction with a critical difference when it comes to what constitutes a<strong>&nbsp;\u201cforecast\u201d (what is likely to happen) versus a \u201cscenario\u201d (a possibility based on assumptions).<\/strong>&nbsp;The challenge is not in determining whether the scenarios are completely factual per se, but instead whether they are factually complete,\u201d wrote the authors in their report.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The most widely reported<strong>&nbsp;WEO scenario<\/strong>&nbsp;is that the world will see&nbsp;<strong>peak oil demand by the early 2030s.<\/strong>&nbsp;NCEA co-authors Mark P. Mills and Neil Atkinson believe that this conclusion is a prima facie case; minimally, the&nbsp;<strong>IEA should include business as usual (BAU) scenarios, not those based on all \u201chigh cases\u201d or unrealistic possibilities.<\/strong><\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"406\" data-attachment-id=\"371580\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371580\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-589.png?fit=972%2C546&amp;ssl=1\" data-orig-size=\"972,546\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-589.png?fit=723%2C406&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-589.png?resize=723%2C406&#038;ssl=1\" alt=\"\" class=\"wp-image-371580\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-589.png?w=972&amp;ssl=1 972w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-589.png?resize=300%2C169&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-589.png?resize=768%2C431&amp;ssl=1 768w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Mills and Atkinson pinpoint 23 flawed assumptions used in the WEO scenarios to predict future oil demand, including:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em><strong>IEA assumes<\/strong>:\u00a0<strong>Corporate transition policies<\/strong>\u00a0are real and durable.\u00a0<strong>NCEA counterclaim<\/strong>: Myriad corporations, having earlier proclaimed fealty to \u201cenergy-transition\u201d goals, are\u00a0<strong>either failing to meet such pledges or overtly rescinding them.<\/strong><\/em><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"405\" data-attachment-id=\"371581\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371581\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-590.png?fit=925%2C518&amp;ssl=1\" data-orig-size=\"925,518\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-590.png?fit=723%2C405&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-590.png?resize=723%2C405&#038;ssl=1\" alt=\"\" class=\"wp-image-371581\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-590.png?w=925&amp;ssl=1 925w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-590.png?resize=300%2C168&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-590.png?resize=768%2C430&amp;ssl=1 768w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em><strong>IEA assumes<\/strong>:\u00a0<strong>Transition financing<\/strong>\u00a0will continue to expand.\u00a0<strong>NCEA counterclaim<\/strong>: Alternative energy\u00a0<strong>projects<\/strong>\u00a0have become\u00a0<strong>more expensive and difficult to finance<\/strong>, and wealthy nations are increasingly reluctant to gift huge amounts of money to the faster-growing but poorer nations, many of which have governance issues.<\/em><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"400\" data-attachment-id=\"371583\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371583\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-591.png?fit=971%2C537&amp;ssl=1\" data-orig-size=\"971,537\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-591.png?fit=723%2C400&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-591.png?resize=723%2C400&#038;ssl=1\" alt=\"\" class=\"wp-image-371583\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-591.png?w=971&amp;ssl=1 971w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-591.png?resize=300%2C166&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-591.png?resize=768%2C425&amp;ssl=1 768w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em><strong>IEA assumes<\/strong>:\u00a0<strong>China\u2019s actions<\/strong>\u00a0will follow its pledges.\u00a0<strong>NCEA counterclaim<\/strong>: The scale of China\u2019s role in present and future energy and oil markets requires scenarios that<strong>\u00a0model what China is doing\u2014and will likely do\u2014rather than what China claims or promises.<\/strong><\/em><\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>National Energy Transition Plans<\/strong><\/h5>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"585\" data-attachment-id=\"371585\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371585\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-592.png?fit=995%2C805&amp;ssl=1\" data-orig-size=\"995,805\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-592.png?fit=723%2C585&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-592.png?resize=723%2C585&#038;ssl=1\" alt=\"\" class=\"wp-image-371585\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-592.png?w=995&amp;ssl=1 995w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-592.png?resize=300%2C243&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-592.png?resize=768%2C621&amp;ssl=1 768w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em><strong>IEA\u2019s assumes<\/strong>: The<strong>\u00a0oil growth<\/strong>\u00a0in emerging markets will be low.\u00a0<strong>NCEA counterclaim<\/strong>: The fact of low demand in some poorer regions\u2014e.g., Africa uses roughly one-tenth the per-capita level in OECD countries\u2014points to the<strong>\u00a0potential for very high, not low, growth<\/strong>\u00a0in those markets.<\/em><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"400\" data-attachment-id=\"371587\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371587\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00global-energy-trends-1.png?fit=971%2C537&amp;ssl=1\" data-orig-size=\"971,537\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"00global-energy-trends (1)\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00global-energy-trends-1.png?fit=723%2C400&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00global-energy-trends-1.png?resize=723%2C400&#038;ssl=1\" alt=\"\" class=\"wp-image-371587\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00global-energy-trends-1.png?w=971&amp;ssl=1 971w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00global-energy-trends-1.png?resize=300%2C166&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/00global-energy-trends-1.png?resize=768%2C425&amp;ssl=1 768w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em><strong>IEA\u2019s assumption<\/strong>:\u00a0<strong>Governments<\/strong>\u00a0will stay the course on\u00a0<strong>EV mandates<\/strong>.\u00a0<strong>NCEA\u2019s counterclaim<\/strong>: Recent trends in many countries and U.S. states show\u00a0<strong>policymakers weakening or reducing mandates and subsidies.<\/strong><\/em><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><em><strong>Flawed Assumptions Lead to Flawed Conclusions<\/strong><\/em><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Listed below is a summary of the flaws in 23 (but far from all) of the assumptions used in the WEO scenarios that are relevant to guessing future oil demand. Meaningful scenarios for planning for future uncertainties should include a range of realistic inputs, not just those that are aspirational.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Assumptions about baseline factors that affect oil forecasts<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Assumption: STEPS is a useful baseline.<br>Flaw:\u00a0<em>The baseline scenario, rather than \u201cbusiness as usual,\u201d assumes a future based on\u00a0<strong>countries\u2019 Stated<\/strong><\/em><strong>\u00a0<\/strong><em><strong>Policies Scenario (STEPS)<\/strong>, which not one country is implementing in full.<\/em><\/li>\n\n\n\n<li>Corporate transition policies are real and durable.<br>Flaw:\u00a0\u00a0<em>Myriad\u00a0<strong>corporations<\/strong>, having earlier proclaimed fealty to\u00a0<strong>\u201cenergy-transition\u201d goals<\/strong>, are either failing to meet such pledges or overtly rescinding them.<\/em><\/li>\n\n\n\n<li>Higher economic growth is unlikely.<br>Flaw:\u00a0<em><strong>Ignoring<\/strong>\u00a0the possibility of\u00a0<strong>higher economic growth,<\/strong>\u00a0based on historical trends and the goals of all nations, leads to scenarios that underestimate future oil demand.<\/em><\/li>\n\n\n\n<li>Transition financing will continue to expand.<br>Flaw:\u00a0<em>Alternative energy\u00a0<strong>projects<\/strong>\u00a0have become more<strong>\u00a0expensive and difficult to finance<\/strong>, and wealthy nations are increasingly reluctant to gift huge amounts of money to the faster-growing but poorer nations, many of which have governance issues.<\/em><\/li>\n\n\n\n<li>Efficiency gains and structural changes will lower global demand for energy.<br>Flaw:\u00a0<em>Long-run trends show that\u00a0<strong>energy-efficiency gains<\/strong>\u00a0make energy-centric products and services more affordable and thus do not reduce, but instead\u00a0<strong>generally stimulate, rising demand.<\/strong><\/em><\/li>\n\n\n\n<li>Solar and wind power are 100% efficient.<br>Flaw:\u00a0<em>The WEO 2024 assertion that \u201cmost renewables are considered\u00a0<strong>100% efficient\u201d<\/strong>\u00a0contradicts fundamental physics and is, arguably, a\u00a0<strong>silly<\/strong>\u00a0PR-centric rhetorical flourish.<\/em><\/li>\n\n\n\n<li>China\u2019s actions will follow its pledges.<br>Flaw:\u00a0<em>The scale of China\u2019s role in present and future energy and oil markets requires scenarios that\u00a0<strong>model what China is doing\u2014and will likely do, in fact<\/strong>\u2014rather than what China claims or promises.<\/em><\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"314\" data-attachment-id=\"371589\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371589\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?fit=1391%2C604&amp;ssl=1\" data-orig-size=\"1391,604\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?fit=723%2C314&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?resize=723%2C314&#038;ssl=1\" alt=\"\" class=\"wp-image-371589\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?resize=1024%2C445&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?resize=300%2C130&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?resize=768%2C333&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?resize=1200%2C521&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-593.png?w=1391&amp;ssl=1 1391w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Assumptions regarding oil\u2019s future<\/strong><\/p>\n\n\n\n<ol start=\"8\" class=\"wp-block-list\">\n<li>The oil growth in emerging markets will be low.<br>Flaw:\u00a0\u00a0<em>The fact of low demand in some\u00a0<strong>poorer regions<\/strong>\u2014e.g., Africa uses roughly one-tenth the per-capita level in OECD countries\u2014points to the\u00a0<strong>potential for very high, not low, growth<\/strong>\u00a0in those markets.<\/em><\/li>\n\n\n\n<li>The EV market share will accelerate.<br>Flaw:\u00a0\u00a0<em><strong>Slowing<\/strong>\u00a0market adoption and retrenchments in\u00a0<strong>automakers\u2019 EV plans or promises<\/strong>\u00a0are evident, calling for scenarios that model realities that could persist.<\/em><\/li>\n\n\n\n<li>Governments will stay the course on EV mandates.<br>Flaw:\u00a0\u00a0<em>Recent trends in many countries and U.S. states show\u00a0<strong>policymakers weakening or reducing mandates and subsidies.<\/strong><\/em><\/li>\n\n\n\n<li>China\u2019s EV \u201csuccess story\u201d leads quickly to lower oil demand.<br>Flaw:\u00a0\u00a0<em>Data point to the fact that in the real world,\u00a0<strong>EV sales and gasoline consumption are both rising.<\/strong><\/em><\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Assumptions about other transportation markets<\/strong><\/p>\n\n\n\n<ol start=\"12\" class=\"wp-block-list\">\n<li>There will be significant electrification of heavy-duty trucks.<br>Flaw:\u00a0\u00a0<em>There is<strong>\u00a0no evidence of market adoption<\/strong>\u00a0for any fuel option that leads to far higher capital costs and enormous degradation in performance.<\/em><\/li>\n\n\n\n<li>There will be significant electrification and fuel alternatives in aviation.<br>Flaw:\u00a0\u00a0<em>There are\u00a0<strong>no trends showing non-oil options<\/strong>\u00a0for even a tiny share of the\u00a0<strong>aviation market<\/strong>, in an industry that forecasts booming demand.<\/em><\/li>\n\n\n\n<li>There will be significant electrification and fuel alternatives for ships.<br>Flaw:\u00a0\u00a0<em>The\u00a0<strong>only<\/strong>\u00a0modestly significant\u00a0<strong>change<\/strong>\u00a0in oil used for global shipping comes from the<strong>\u00a0use of liquefied natural gas, another (and generally more expensive) hydrocarbon.<\/strong><\/em><\/li>\n\n\n\n<li>There will be a rapid decline in oil used for Middle East power generation.<br>Flaw:\u00a0\u00a0<em>Despite pledges and pronouncements, the year 2024 saw continued, and even<strong>\u00a0higher, use of oil<\/strong>\u00a0for electricity generation.<\/em><\/li>\n\n\n\n<li>The growth in petrochemicals and plastics will be slow.<br>Flaw:\u00a0\u00a0<em>Slower growth is anchored in recycling<strong>\u00a0enthusiasms that markets are not adopting<\/strong>\u00a0and expectations of new recycling technologies that remain expensive or unproved.<\/em><\/li>\n\n\n\n<li>All scenarios lead to peak oil demand by ~2030.<br>Flaw:\u00a0\u00a0<em>A WEO core conclusion that \u201ccombing all the high cases\u201d leads to\u00a0<strong>\u201cglobal peaks for oil\u201d<\/strong>\u00a0by ~2030 is, prima facie, not\u00a0<strong>based on<\/strong>\u00a0all \u201chigh cases\u201d but on\u00a0<strong>unrealistic scenarios.<\/strong><\/em><\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Assumptions regarding associated industries<\/strong><\/p>\n\n\n\n<ol start=\"18\" class=\"wp-block-list\">\n<li>The supply of<strong>\u00a0critical minerals<\/strong>\u00a0will meet transition goals.<br>Flaw:\u00a0\u00a0<em>Myriad studies have now documented the fact of a looming<strong>\u00a0shortfall in current and expected production<\/strong>\u00a0and of the challenges in changing that status quo.<\/em><\/li>\n\n\n\n<li>Prices of critical minerals will be low.<br>Flaw:\u00a0\u00a0<em>It is fanciful in the annals of economic history to imagine that record-high demands won\u2019t lead to\u00a0<strong>far higher prices for the critical minerals needed to build EVs<\/strong>\u00a0(as well as for\u00a0<strong>wind and solar hardware<\/strong>).<\/em><\/li>\n\n\n\n<li>China won\u2019t exercise minerals dominance as an economic or a geopolitical tool.<br>Flaw:\u00a0\u00a0<em><strong>China<\/strong>\u00a0has already signaled over the past year that it is willing and\u00a0<strong>able to implement export controls<\/strong>,\u00a0<strong>or pricing power on critical minerals,<\/strong>\u00a0where it holds significant global share.<\/em><\/li>\n\n\n\n<li>Oil and gas annual investments are adequate to avoid economic disruptions.<br>Flaw:\u00a0\u00a0<em>Current levels of\u00a0<strong>investment<\/strong>\u00a0are\u00a0<strong>not adequate<\/strong>\u00a0to meet demands under business-as-usual scenarios, especially when combined with<strong>\u00a0likely decline rates of extant oil fields.<\/strong><\/em><\/li>\n\n\n\n<li>The future decline rate from existing oil fields will continue historical trends.<br>Flaw:\u00a0\u00a0<em>The much\u00a0<strong>faster decline rate in<\/strong>\u00a0output from now-significant\u00a0<strong>U.S. shale fields<\/strong>\u00a0has altered the global average decline rate, pointing to the need for increasing investments to avoid a shortfall.<\/em><\/li>\n\n\n\n<li>OPEC will be a reliable cushion to manage oil-supply disruptions.<br>Flaw:\u00a0\u00a0<em>History suggests that scenarios should\u00a0<strong>include alternative possibilities to relying on OPEC<\/strong>\u00a0to provide a cushion<strong>\u00a0for meeting unexpected shortfalls<\/strong>\u00a0in production or increases in demand.<\/em><\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"697\" height=\"312\" data-attachment-id=\"371591\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371591\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-595.png?fit=697%2C312&amp;ssl=1\" data-orig-size=\"697,312\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-595.png?fit=697%2C312&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-595.png?resize=697%2C312&#038;ssl=1\" alt=\"\" class=\"wp-image-371591\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-595.png?w=697&amp;ssl=1 697w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-595.png?resize=300%2C134&amp;ssl=1 300w\" sizes=\"auto, (max-width: 697px) 100vw, 697px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><em>Executive Summary: Flawed Assumptions Lead to Dangerous \u201cForecasts\u201d<\/em><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><em>For decades, the International Energy Agency (IEA) was the world\u2019s gold standard for energy information and credible analyses.&nbsp;<strong>Following<\/strong>&nbsp;the commitment of its member governments to the<strong>&nbsp;2015 Paris Agreement climate accords, the agency radically changed its mission to become a promoter of an energy transition<\/strong>. In 2022, the IEA\u2019s governing board reinforced its mission to \u201cguide countries as they build net-zero emission energy systems to comply with internationally agreed climate goals.\u201d<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"511\" data-attachment-id=\"371593\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371593\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?fit=1500%2C1060&amp;ssl=1\" data-orig-size=\"1500,1060\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?fit=723%2C511&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?resize=723%2C511&#038;ssl=1\" alt=\"\" class=\"wp-image-371593\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?resize=1024%2C724&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?resize=300%2C212&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?resize=768%2C543&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?resize=1200%2C848&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-596.png?w=1446&amp;ssl=1 1446w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The IEA\u2019s current preoccupation with promoting an energy transition has resulted in its signature annual report, the World Energy Outlook (WEO),&nbsp;<strong>offering policymakers a view of future possibilities that are, at best, distorted and, at worst, dangerously wrong.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The 2024 WEO\u2019s central conclusion, its core \u201coutlook,\u201d has been&nbsp;<strong>widely reported as a credible&nbsp;forecast, i.e., something&nbsp;likely&nbsp;to happen:<\/strong>&nbsp;\u201c[T]he continued progress of transitions means that, by the end of the decade, the global economy can continue to grow without using additional amounts of oil, natural gas or<\/em><em>&nbsp;coal.\u201d<\/em><a href=\"https:\/\/rclutz.com\/wp-content\/uploads\/2018\/02\/37021-01theworldofenergy.jpg\"><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"511\" data-attachment-id=\"371594\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371594\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?fit=1500%2C1060&amp;ssl=1\" data-orig-size=\"1500,1060\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?fit=723%2C511&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?resize=723%2C511&#038;ssl=1\" alt=\"\" class=\"wp-image-371594\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?resize=1024%2C724&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?resize=300%2C212&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?resize=768%2C543&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?resize=1200%2C848&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-597.png?w=1446&amp;ssl=1 1446w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>The WEO itself states that it doesn\u2019t forecast but has&nbsp;scenarios<\/strong>\u2014explorations or models of&nbsp;possibilities, and cautions: \u201cOur scenario analysis is designed to inform decision makers as they consider options\u2026. [N]one of the scenarios should be viewed as a forecast.\u201d&nbsp;<strong>Scenarios that usefully \u201cinform\u201d need to be based on realistic possibilities and assumptions.<\/strong>&nbsp;But there is one foundational assumption\u2014one that the IEA has for decades included in its scenarios and that has been&nbsp;<strong>banished from the WEO: the possibility of business as usual (BAU).<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Instead, the&nbsp;<strong>WEO\u2019s baseline scenario now assumes that nations<\/strong>&nbsp;are undertaking their specific energy-transition plans that they promised in order to&nbsp;<strong>comply with the 2015 Paris Agreement,<\/strong>&nbsp;i.e., \u201cstated policies scenario\u201d (STEPS). Yet none of the signatories to that Agreement is fully meeting its promises, and most are a long way behind schedule.&nbsp;<strong>Believing something that is not true is not just problematic; it meets the definition of a delusion.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>It is fanciful to forecast that, over the next half-dozen years, the growth in the world\u2019s population and economy won\u2019t continue a two-century-long trend and lead to increased use of the fossil fuels that today supply over 80% of all energy, only slightly below the share seen 50 years ago. The data show that<strong>&nbsp;the global energy system is operating essentially along BAU lines<\/strong>&nbsp;and not only far off the STEPS, but even&nbsp;<strong>further away from the more aggressive transition aspirations<\/strong>&nbsp;that the WEO also models.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"511\" data-attachment-id=\"371596\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371596\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?fit=1754%2C1240&amp;ssl=1\" data-orig-size=\"1754,1240\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?fit=723%2C511&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?resize=723%2C511&#038;ssl=1\" alt=\"\" class=\"wp-image-371596\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?resize=1024%2C724&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?resize=300%2C212&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?resize=768%2C543&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?resize=1536%2C1086&amp;ssl=1 1536w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?resize=1200%2C848&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?w=1754&amp;ssl=1 1754w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-598.png?w=1446&amp;ssl=1 1446w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>In this analysis, we focus on highlighting 23 problematic, flawed assumptions that are relevant specifically to the WEO\u2019s oil scenarios and the widely reported \u201cforecast\u201d that the world will see peak oil demand by the early 2030s (see\u00a0<strong>box\u00a0<\/strong>on pp. 4-5,\u00a0<strong>Flawed Assumptions Lead to Flawed Conclusions<\/strong>). While other scenarios about other energy sources are critical as well,\u00a0<strong>oil remains a geopolitical touchstone and the single biggest source of global energy\u201410-fold greater than wind and solar combined<\/strong>. At the very least, this analysis points to the need for real-world scenarios in general and, in the case of oil, the much higher probability that demand continues to grow in the foreseeable future and, possibly, quite significantly (below, see\u00a0<strong>Global Oil Demand: Future Scenarios<\/strong>).<\/em><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"456\" data-attachment-id=\"371598\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371598\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-600.png?fit=736%2C464&amp;ssl=1\" data-orig-size=\"736,464\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-600.png?fit=723%2C456&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-600.png?resize=723%2C456&#038;ssl=1\" alt=\"\" class=\"wp-image-371598\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-600.png?w=736&amp;ssl=1 736w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-600.png?resize=300%2C189&amp;ssl=1 300w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><em>Debating the intricacies in flawed assumptions about energy scenarios is no mere theoretical exercise. The IEA\u2019s legacy reputation&nbsp;<strong>continues to influence not only trillions of dollars<\/strong>&nbsp;in investment decisions but&nbsp;<strong>also government policies with far-reaching geopolitical consequences.<\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><em><a href=\"https:\/\/energyanalytics.org\/energy-delusions-peak-oil-forecasts\/\">Energy Delusions: Peak Oil Forecasts<\/a><\/em><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"474\" data-attachment-id=\"371600\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=371600\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-601.png?fit=745%2C488&amp;ssl=1\" data-orig-size=\"745,488\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-601.png?fit=723%2C474&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-601.png?resize=723%2C474&#038;ssl=1\" alt=\"\" class=\"wp-image-371600\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-601.png?w=745&amp;ssl=1 745w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/image-601.png?resize=300%2C197&amp;ssl=1 300w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Industry players consider the International Energy Agency\u2019s signature annual report, the World Energy Outlook, to contain highly credible analyses. However, a new\u00a0critique\u00a0from the National Center of Energy Analytics experts\u00a0finds the IEA\u2019s latest scenarios on future oil demand to be problematic and potentially, dangerously wrong.\u00a0<\/p>\n","protected":false},"author":121246920,"featured_media":371602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691824104,691829238,691834011,691834010,691834012,691834009,691834008],"class_list":{"0":"post-371577","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-international-energy-agencys-iea","9":"tag-oecd-countries","10":"tag-oil-growth","11":"tag-transition-financing","12":"tag-transition-policies","13":"tag-weo-scenarios","14":"tag-world-energy-outlook","16":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/03\/01688560056712.jpeg?fit=1260%2C720&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1yFb","jetpack-related-posts":[{"id":429848,"url":"https:\/\/climatescience.press\/?p=429848","url_meta":{"origin":371577,"position":0},"title":"IEA\u2019s 2026 Ministerial Meeting Was Its Most Consequential","author":"uwe.roland.gross","date":"06\/03\/2026","format":false,"excerpt":"The International Energy Agency (IEA) held its biennial meeting of energy ministers in Paris last week. Usually, this is a worthy occasion with little accompanying controversy. This time, it was very different. The event was the biggest in the Agency\u2019s history reflecting the growth in its membership in the past\u2026","rel":"","context":"In \"China\"","block_context":{"text":"China","link":"https:\/\/climatescience.press\/?tag=china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQME-11wZ19-uVrQmHL-fhkv3PZcz1t4wXwI9uVvJsrQYKfHW09aSEKRh2iDe-t5dMoh-f4Q9MVB-ckTVZAXrIYY1kqggkFdLzjjQSRVteUU-UvoLX1B8FdDL7eOsQIb.jpeg?fit=1200%2C659&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQME-11wZ19-uVrQmHL-fhkv3PZcz1t4wXwI9uVvJsrQYKfHW09aSEKRh2iDe-t5dMoh-f4Q9MVB-ckTVZAXrIYY1kqggkFdLzjjQSRVteUU-UvoLX1B8FdDL7eOsQIb.jpeg?fit=1200%2C659&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQME-11wZ19-uVrQmHL-fhkv3PZcz1t4wXwI9uVvJsrQYKfHW09aSEKRh2iDe-t5dMoh-f4Q9MVB-ckTVZAXrIYY1kqggkFdLzjjQSRVteUU-UvoLX1B8FdDL7eOsQIb.jpeg?fit=1200%2C659&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQME-11wZ19-uVrQmHL-fhkv3PZcz1t4wXwI9uVvJsrQYKfHW09aSEKRh2iDe-t5dMoh-f4Q9MVB-ckTVZAXrIYY1kqggkFdLzjjQSRVteUU-UvoLX1B8FdDL7eOsQIb.jpeg?fit=1200%2C659&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQME-11wZ19-uVrQmHL-fhkv3PZcz1t4wXwI9uVvJsrQYKfHW09aSEKRh2iDe-t5dMoh-f4Q9MVB-ckTVZAXrIYY1kqggkFdLzjjQSRVteUU-UvoLX1B8FdDL7eOsQIb.jpeg?fit=1200%2C659&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":424371,"url":"https:\/\/climatescience.press\/?p=424371","url_meta":{"origin":371577,"position":1},"title":"Expert Study Shows Sanity Returning to Global Oil Forecasts, But Damage Has Been","author":"uwe.roland.gross","date":"02\/02\/2026","format":false,"excerpt":"It can be hard to explain to a general audience how important the release of the World Energy Outlook (WEO) is to policymakers, energy companies and investors who make hundreds of billions of dollars in investment decisions worldwide each year.","rel":"","context":"In \"Climate Policies\"","block_context":{"text":"Climate Policies","link":"https:\/\/climatescience.press\/?tag=climate-policies"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQM6uASCh6sY3Vl9GzRbxNJlfaVQdKi6F0AOxT5JUJC9Wb9nnTCSXqIU5Nl8EQA54rBFdiIeCYANxSVRWaH9wQTJAraNw8QMEoNs4rvyI7t6Xnx7N5dkEtxdBydYQ7WY.jpeg?fit=1200%2C731&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQM6uASCh6sY3Vl9GzRbxNJlfaVQdKi6F0AOxT5JUJC9Wb9nnTCSXqIU5Nl8EQA54rBFdiIeCYANxSVRWaH9wQTJAraNw8QMEoNs4rvyI7t6Xnx7N5dkEtxdBydYQ7WY.jpeg?fit=1200%2C731&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQM6uASCh6sY3Vl9GzRbxNJlfaVQdKi6F0AOxT5JUJC9Wb9nnTCSXqIU5Nl8EQA54rBFdiIeCYANxSVRWaH9wQTJAraNw8QMEoNs4rvyI7t6Xnx7N5dkEtxdBydYQ7WY.jpeg?fit=1200%2C731&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQM6uASCh6sY3Vl9GzRbxNJlfaVQdKi6F0AOxT5JUJC9Wb9nnTCSXqIU5Nl8EQA54rBFdiIeCYANxSVRWaH9wQTJAraNw8QMEoNs4rvyI7t6Xnx7N5dkEtxdBydYQ7WY.jpeg?fit=1200%2C731&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQM6uASCh6sY3Vl9GzRbxNJlfaVQdKi6F0AOxT5JUJC9Wb9nnTCSXqIU5Nl8EQA54rBFdiIeCYANxSVRWaH9wQTJAraNw8QMEoNs4rvyI7t6Xnx7N5dkEtxdBydYQ7WY.jpeg?fit=1200%2C731&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":425437,"url":"https:\/\/climatescience.press\/?p=425437","url_meta":{"origin":371577,"position":2},"title":"The International Energy Agency\u2019s Reluctant Return to Energy Realism","author":"uwe.roland.gross","date":"10\/02\/2026","format":false,"excerpt":"In a\u00a0report\u00a0published last week by the National Center for Energy Analytics (NCEA), two seasoned veterans of the global energy forecasting establishment delivered what can only be described as a sober and consequential verdict on the state of international energy realism. Neil Atkinson, former head of the oil markets division at\u2026","rel":"","context":"In \"energy policy\"","block_context":{"text":"energy policy","link":"https:\/\/climatescience.press\/?tag=energy-policy"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQMkAy9pjEfV5i0vQs_Y6KPAlSBmgzBCxold6dBiRWYpTmxLvs-gSREo_vYVG0voRFH5Xl6cmX9FKAVdiKlIPrc6ImmlAUv-Ps5OxptmGDTJLOpv0SWiv67NiDqGMv6UBj_0ecZZMHf_ilZ2h91fgNwaw6c.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQMkAy9pjEfV5i0vQs_Y6KPAlSBmgzBCxold6dBiRWYpTmxLvs-gSREo_vYVG0voRFH5Xl6cmX9FKAVdiKlIPrc6ImmlAUv-Ps5OxptmGDTJLOpv0SWiv67NiDqGMv6UBj_0ecZZMHf_ilZ2h91fgNwaw6c.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQMkAy9pjEfV5i0vQs_Y6KPAlSBmgzBCxold6dBiRWYpTmxLvs-gSREo_vYVG0voRFH5Xl6cmX9FKAVdiKlIPrc6ImmlAUv-Ps5OxptmGDTJLOpv0SWiv67NiDqGMv6UBj_0ecZZMHf_ilZ2h91fgNwaw6c.jpeg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQMkAy9pjEfV5i0vQs_Y6KPAlSBmgzBCxold6dBiRWYpTmxLvs-gSREo_vYVG0voRFH5Xl6cmX9FKAVdiKlIPrc6ImmlAUv-Ps5OxptmGDTJLOpv0SWiv67NiDqGMv6UBj_0ecZZMHf_ilZ2h91fgNwaw6c.jpeg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/AQMkAy9pjEfV5i0vQs_Y6KPAlSBmgzBCxold6dBiRWYpTmxLvs-gSREo_vYVG0voRFH5Xl6cmX9FKAVdiKlIPrc6ImmlAUv-Ps5OxptmGDTJLOpv0SWiv67NiDqGMv6UBj_0ecZZMHf_ilZ2h91fgNwaw6c.jpeg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":285740,"url":"https:\/\/climatescience.press\/?p=285740","url_meta":{"origin":371577,"position":3},"title":"Pielke Jr.: Going All in with Peak Fossil Fuels by 2030","author":"uwe.roland.gross","date":"30\/10\/2023","format":false,"excerpt":"More generally, the issuance of a forecast by IEA contradicts everything we have learned about the perils of energy system forecasting. With rare exceptions, medium- and long-range forecasts become largely worthless in a matter of years, and often a few months after their publication. From Watts Up With That? The\u2026","rel":"","context":"In \"CO2\"","block_context":{"text":"CO2","link":"https:\/\/climatescience.press\/?tag=co2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-833.png?fit=1200%2C803&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-833.png?fit=1200%2C803&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-833.png?fit=1200%2C803&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-833.png?fit=1200%2C803&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-833.png?fit=1200%2C803&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":404082,"url":"https:\/\/climatescience.press\/?p=404082","url_meta":{"origin":371577,"position":4},"title":"The end of fossil fuel era? It\u2019s nowhere near","author":"uwe.roland.gross","date":"22\/09\/2025","format":false,"excerpt":"For the last few years, climate and energy policymakers have convinced themselves the world was inexorably moving away from fossil fuels. Breaking news: it is not.","rel":"","context":"In \"carbon dioxide emissions\"","block_context":{"text":"carbon dioxide emissions","link":"https:\/\/climatescience.press\/?tag=carbon-dioxide-emissions"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0fossilfuelsu.jpg?fit=1200%2C781&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0fossilfuelsu.jpg?fit=1200%2C781&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0fossilfuelsu.jpg?fit=1200%2C781&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0fossilfuelsu.jpg?fit=1200%2C781&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/11\/0fossilfuelsu.jpg?fit=1200%2C781&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":290579,"url":"https:\/\/climatescience.press\/?p=290579","url_meta":{"origin":371577,"position":5},"title":"The Oil Demand Outlook COP28 Leaders Would Hate","author":"uwe.roland.gross","date":"09\/12\/2023","format":false,"excerpt":"Oil producers slammed the IEA for manipulating data.","rel":"","context":"In \"COP28\"","block_context":{"text":"COP28","link":"https:\/\/climatescience.press\/?tag=cop28"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0489829.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0489829.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0489829.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0489829.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/12\/0489829.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/371577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=371577"}],"version-history":[{"count":11,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/371577\/revisions"}],"predecessor-version":[{"id":371604,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/371577\/revisions\/371604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/371602"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=371577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=371577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=371577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}