World oil and gas demand could grow until 2050, IEA says

Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from its previous expectations of a speedy transition to cleaner fuels and predicting that the world will likely fail to achieve climate goals. The IEA, the West’s energy security watchdog, has been under pressure from the U.S. for a shift in recent years toward a focus on clean energy policies as President Donald Trump called on American companies to further expand oil and gas production. Under the Joe Biden administration, the IEA predicted that global oil demand would peak this decade and said no more investment in oil and gas was needed if the world wanted to achieve its climate target.