The criticality of the global energy situation is emphasised by the release, on schedule (18-5-21), of the eagerly awaited “Net Zero by 2050” roadmap (NZE) from the International Energy Agency (IEA).
What if technology does advance, but not enough, and what if the price of oil is high, but not high enough to justify bringing it out of the ground at the RATE required for the smooth functioning of global society? What then?
It was as if the International Energy Agency were appearing on the old American television game show To Tell the Truth last week as it offered a third contradictory forecast in the space of a year.
The famous Danish physicist Niels Bohr once humorously observed, "Predictions are very difficult, especially about the future." And so, as the world considers yet another rosy oil supply forecast, this time from the Paris-based International Energy Agency, it is worth reviewing the agency’s record.