The Myth of Peak Fossil-Fuel Demand Crumbles: Javier Blas

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.

The consensus was that consumption of oil, natural gas and coal would peak before the end of this decade. There was debate about the speed of the subsequent decline, but the conclusion was the same: The end of the fossil-fuel era was within reach. But that tenet, key to achieving the ambition of net zero by 2050, wasn’t as cast in stone as its backers thought.

The annual report being prepared by International Energy Agency, which represents the views of the ...