Sustainability, Energy Transition, ESG | Weekly Thematic

Peak Oil Debate Is Complex: Policy Backtracking Supports Oil Use
September 22, 2023
Companies Mentioned:
ExxonMobil, Aramco, OCI Global, South Jersey Industries, OPAL Fuels, OPEC+
Commodities Mentioned:
Fossil Fuels, Oil, Hydrocarbons, Natural Gas, Nuclear Power, Hydrogen, Critical Minerals, Batteries, ICE, Renewables, Raw Materials, Wind, CO2, Polyethylene, RNG, SAF, Fuels, Ammonia, Methanol
Subjects Covered:

C-MACC Weekly Sustainability and Energy Transition Report

Peak Oil Debate Is Complex: Policy Backtracking Supports Oil Use

  • The IEA supply/demand models assume policy can be enacted as stated – the flaw in this approach is that policy could backtrack, and costs are delaying progress.
  • As noted with the UK this week, as estimates of complying with net-zero goals increase, governments must choose whether to bear the costs or change course.
  • Cost increases that we are seeing to meet decarbonizing goals in the West are driven by hard-to-fix labor and materials issues as well as higher borrowing costs.
  • As we have noted in prior work, delays in the West impact hydrocarbon needs but also allow China to gain an increasing experience edge and lower costs.
  • Otherwise, we look at the CBAM and why it is upsetting so many countries, we look at the near-term shipping fuel options and talk more about RNG.

See PDF below for all charts, tables and diagrams

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