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A 'Peak Oil' Prediction Surprise From the International Energy Agency
"The International Energy Agency's latest outlook signals that oil demand could keep growing through to the middle of the century," reports CNBC, "reflecting a sharp tonal shift from the world's energy watchdog and raising further questions about the future of fossil fuels."
In its flagship World Energy Outlook, the Paris-based agency on Wednesday laid out a scenario in which demand for oil climbs to 113 million barrels per day by 2050, up 13% from 2024 levels. The IEA had previously estimated a peak in global fossil fuel demand before the end of this decade and said that, in order to reach net-zero emissions by 2050, there should be no new investments in coal, oil and gas projects... The IEA's end-of-decade peak oil forecast kick-started a long-running war of words with OPEC, an influential group of oil exporting countries, which accused the IEA of fearmongering and risking the destabilization of the global economy.
The IEA's latest forecast of increasing oil demand was outlined in its "Current Policies Scenario" — one of a number of scenarios outlined by the IEA. This one assumes no new policies or regulations beyond those already in place. The CPS was dropped five years ago amid energy market turmoil during the coronavirus pandemic, and its reintroduction follows pressure from the Trump administration... Gregory Brew, an analyst at Eurasia Group's Energy, Climate and Resources team, said the IEA's retreat on peak oil demand signified "a major shift" from the group's position over the last five years. "The justifications offered for the shift include policy changes in the U.S., where slow EV penetration indicates robust oil [consumption], but is also tied to expected increases in petrochemical and aviation fuel in East and Southeast Asia," Brew told CNBC by email. "It's unlikely the agency is adjusting based on political pressure — though there has been some of that, with the Trump administration criticizing the group's supposed bias in favor of renewable energy — and the shift reflects a broader skepticism that oil demand is set to peak any time soon," he added...
Alongside its CPS, the IEA also laid out projections under its so-called "Stated Policies Scenario" (STEPS), which reflects the prevailing direction of travel for the global energy system. In this assumption, the IEA said it expects oil demand to peak at 102 million barrels per day around 2030, before gradually declining. Global electric car sales are much stronger under this scenario compared to the CPS. The IEA said its multiple scenarios explore a range of consequences from various policy choices and should not be considered forecasts.
Thanks to Slashdot reader magzteel for sharing the news.
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Power: The answer to and source of all your AI datacenter problems
Digital Realty CTO Chris Sharp weights impact of densification on the datacenter and the rise of the AI factory
Interview In the datacenter biz, power is the product. You either have it or you don't, Chris Sharp tells El Reg.…
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GM Wants Parts Makers To Pull Supply Chains From China
schwit1 shares a report from the Business Times: General Motors (GM) has directed several thousand of its suppliers to scrub their supply chains of parts from China, four people familiar with the matter said, reflecting automakers' growing frustration over geopolitical disruptions to their operations. GM executives have been telling suppliers they should find alternatives to China for their raw materials and parts, with the goal of eventually moving their supply chains out of the country entirely, the people said. The automaker has set a 2027 deadline for some suppliers to dissolve their China sourcing ties, some of the sources said. GM approached some suppliers with the directive in late 2024, but the effort took on fresh urgency this past spring, during the early days of an escalating US-China trade battle, the sources said.
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Apple’s new 15% mini-app deal finally gets Tencent to cut Cupertino in
When is an app not an app? When it’s a mini app inside another app
Apple has cut its take to 15 percent on purchases inside mini apps running within other iOS apps, and reached a parallel agreement with Tencent that brings WeChat's vast mini-program ecosystem into its revenue net.…
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Scientists Confirmed What Is Inside Our Moon
alternative_right shares a report from ScienceAlert: A thorough investigation published in May 2023 found that the inner core of the Moon is, in fact, a solid ball with a density similar to that of iron. To figure it out once and for all, [astronomer Arthur Briaud of the French National Centre for Scientific Research in France] and his colleagues collected data from space missions and lunar laser-ranging experiments to compile a profile of various lunar characteristics. These include the degree of its deformation by its gravitational interaction with Earth, the variation in its distance from Earth, and its density.
... they found that the lunar core is very similar to that of Earth â" with an outer fluid layer and a solid inner core. According to their modeling, the outer core has a radius of about 362 kilometers (225 miles), and the inner core has a radius of about 258 kilometers (160 miles). That's about 15 percent of the entire radius of the Moon. The inner core, the team found, also has a density of about 7,822 kilograms per cubic meter. That's very close to the density of iron. [...] The research has been published in Nature.
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She Used ChatGPT To Win the Virginia Lottery, Then Donated Every Dollar
An anonymous reader quotes a report from the Washington Post: Winning the lottery isn't what brought Carrie Edwards her 15 minutes of fame. It was giving it all away. Standing alone in her kitchen one day in September, the Virginia woman was thunderstruck to discover she had won $150,000 in a Powerball drawing. As she was absorbing her windfall, she said, "I just heard as loud as you can hear God or whoever you believe in the universe just say, this is -- it's not your money." Then came a decision: She would donate it all to her three most cherished charities (source paywalled; alternative source). [...] Her journey to the lucky prize started when she walked into a 7-Eleven with a friend who wanted to buy two Powerball tickets. The jackpot for the Sept. 6 drawing was topping $1.7 billion, the second-largest amount ever. Edwards, 68, hardly ever played the lottery, but her friend was an active player who gave her two pieces of advice: Always buy a paper ticket, rather than getting them online. And the Powerball multiplier is a scam, don't do it. She ignored him on both accounts.
She created a Virginia Lottery account on her phone. Then, instead of the typical strategies of using family birthdays and lucky numbers, she went to ChatGPT -- which she had only recently started using for research -- and asked, "Do you have any winning numbers for me?" "Luck is luck," replied the chatbot. Then it gave numbers that she plugged in -- paying the extra dollar for the Power Play to multiply anything she might win. She initially thought luck wasn't on her side when she didn't win the massive jackpot. But what she didn't realize is that she'd picked the "draw two" option, meaning her numbers were reentered for the next drawing. When she got a notification on her phone that she had won, she said, she thought it was a scam, or maybe she'd won something small, like $10. Just to satisfy her curiosity, she logged into her account and saw that she had matched four of the five numbers plus the Powerball in that second drawing. It would have been a $50,000 payout, but the multiplier tripled her winnings.
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