Gas will become the world's primary source of energy by 2035, according to DNV GL's Energy Transition Outlook. Oil and gas will still make up 44% of the world's energy in 2050, down from 53% at present, according to the forecast. The global demand for energy is expected to level out in 2030, thanks to drastic increases in efficiency. But even with these improvements, oil production could peak as early as 2020, says DnV's report.
Gas will become the world's primary source of energy by 2035, according to DNV GL's Energy Transition Outlook. Oil and gas will still make up 44% of the world's energy in 2050, down from 53% at present, according to the forecast. The global demand for energy is expected to level out in 2030, thanks to drastic increases in efficiency. Renewable energy will claim a larger slice of the market, with fossil fuels falling from 81% at present to 52% in 2050.