Sometime in the next few weeks, global oil consumption will reach 100 million barrels per day (bpd) – more than twice what it was 50 years ago – and it shows no immediate sign of falling. Despite overwhelming evidence of carbon-fuelled climate change and billions in subsidies for alternative technologies such as wind and solar power, oil is so entrenched in the modern world that demand is still rising by up to 1.5 percent a year. There is no consensus on when world oil demand will peak but it is clear much depends on how governments respond to global warming. That’s the view of the International Energy Agency (IEA), which advises Western economies on energy policy. As Bassam Fattouh and Anupama Sen of […]