The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand , where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and global oil supermajors believe that it could occur by 2030 , or potentially even earlier as fallout from the coronavirus pandemic has indicated. While peak oil demand poses an ominous long-term threat to the global petroleum industry it has not crimped the massive oil boom underway in South America. If anything, global energy supermajors are ratcheting up their investment in the continent’s petroleum industry, particularly the Guyana-Surname Basin and offshore Brazil. Despite peak oil demand and the global push to cut carbon emissions, hydrocarbon consumption is rising at a steady clip, mostly driven […]