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Death of fossil fuels greatly exaggerated
An authoritative report on global energy consumption released Thursday indicates that rumours of the death of fossil fuels have been greatly exaggerated.
The annual Statistical Review of World Energy report described 2023 as “a year of record highs in an energy hungry world.”
This includes new records in global energy consumption, up 2% from 2022, as well as global fossil fuel consumption, up 1.5%.
Fossil fuels — coal, oil and natural gas — continue to be the world’s dominant sources of energy, accounting for 81.5% of the global energy mix, marginally down from 82% in 2022, marking a slight increase in the use of renewable energy.
Predictions that global energy consumption would continue to decline in the wake of the worldwide recession caused by the COVID-19 pandemic in 2020, have simply not materialized.
The opposite has occurred. The world is going to continue using fossil fuels for energy for a very long time.
