Following energy news these days is exciting: there is so much about new batteries, more efficient solar panels, cheaper wind energy, and dozens of EV models coming to a market near you any day now. The future looks bright, emission-free, and electric. All it takes to ruin the vision is a single report, in this case from the International Energy Agency (IEA).

Titled Key World Energy Statistics 2020, the report provides an in-depth look at energy production and consumption trends spanning a period between the early 1970s and 2018. And the data shows that we are still heavily reliant on oil and gas, despite all the progress renewables have made. In fact, the portion of oil and gas in the world’s energy mix is so massive it is doubtful we will ever be fossil fuel-free.

Let’s take a look at consumption, for example. Crude oil accounted for 48.2 percent of final energy consumption globally in 1973. Forty-five years and huge renewable energy advancements later, crude oil’s share in total final energy consumption had fallen by a meager 8.6 percentage points to 40.8 percent.

Click here to read the full article.

Source: Oil Price