BP Report: Oil is Dying, Long Live Green Energy

BP stated in a forecast published today that oil may have reached its peak due to the pandemic and that renewables will take the place of fossil fuels.  BP has released its 2020 Energy Outlook, which is remarkably different from its 2019 report, when BP’s base case only expected oil consumption to grow over the next decade, reaching a peak in the 2030s.  The report looks at three scenarios to explore energy transition to 2050. BP writes that “the scenarios help to illustrate the range of outcomes possible over the next 30 years, ‎although the uncertainty is substantial and the scenarios do not provide a comprehensive ‎description of all possible outcomes.‎" - Elektrek & BP Energy Outlook Report