.When it comes to energy, Jarand Rystad is the numbers guy. The former McKinsey & Company partner founded Oslo-based Rystad Energy, an independent research and energy intelligence company that sells data and analysis on oil, gas, coal and renewable for...
FRANKFURT, Germany — When it comes to energy, Jarand Rystad is the numbers guy. The former McKinsey & Company partner founded Oslo-based Rystad Energy, an independent research and energy intelligence company that sells data and analysis on oil, gas, coal and renewable forms of energy.
A physicist by training, Rystad is an optimist about the chance of containing climate change through introducing new technologies. He brings numbers to back up his views, based on the company's extensive databases.
A: I think peak coal is very soon. It could even be this year or next year. We are close to peak thermal in China, most likely this year or next, meaning coal and gas electricity generation. China is half of the coal market, so it’s very relevant.
In Europe and the U.S. coal has been trending down for many years. The trend down in Europe and America is balancing the trend up in India and Indonesia and a few other countries and Pakistan, and then China’s peaking. So they are very close to peak coal.
Peak oil, we were in a very good place with EV adoption in Europe and America though it has stalled a little bit due to lack of subsidies. And then we have peak gas, which as you know, consumption is going down in Europe much faster than anyone believed. So taking these three fossil fuels — coal, oil and gas — in aggregate, I think we are talking about maybe the end of this decade will be a peak for fossil, maybe even slightly before.
A: I think it's good news, of course. The
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