The debate over peak oil demand was back in focus on Tuesday, with the head of the International Energy Agency saying that some oil and gas companies agreed with its prediction that global consumption would hit a plateau before 2030.
The rising share of solar and wind in electricity generation, growing electric vehicle sales and economic development in key emerging nations will lead to that conclusion, Fatih Birol told the IEA Energy Innovation Forum in Paris.
However, Opec secretary general Haitham Al Ghais told the World Governments Summit in Dubai on Tuesday that peak oil demand was “something way far out” but declined to provide a timeline.
It's not easy to definitively state when this peak would happen, whether it's “tomorrow, in five years, or in 10 years”, Mr Al Ghais said. “Nobody has a crystal ball.”
The Opec chief stated that the group bases its estimates on “raw data” and is not influenced by “ideological concepts”.
“We take the approach that all forms of energy will be required. No single source of energy will be able to replace another … oil today represents over 30 per cent of the global energy mix,” Mr Al Ghais said.
Opec and the IEA have been increasingly at odds regarding their differing assumptions concerning peak oil and scenarios for demand growth.
Last year, the group of oil-producing countries raised its long-term crude demand forecast to 116 million barrels per day by 2045, an increase of 6 million bpd from its previous estimate.
This year, Opec expects demand to grow by more than 2 million bpd, Mr Al Ghais said, adding that he was encouraged by upward gross domestic product estimate revisions in some countries.
“Although there are question marks … we still feel very robust about China, and we are seeing the Chinese government stepping in to take corrective measures,” Mr Al Ghais said.
“All of this with … [along with] the phenomenal economic growth we're seeing in India leads us to believe that we will have a strong economy this year with positive implications for oil demand.”
India, the world’s most populous nation, is expected to be the largest source of oil demand growth between now and 2030, according to the IEA.
Elections in focus
The transition towards cleaner forms of energy is already under way and is unlikely to be significantly altered by policy changes resulting from events like elections in some countries, energy officials said.
In Paris, Mr Birol reiterated the IEA’s forecast that global oil demand will hit a plateau before the end of this decade. adding: “I am very happy to see that several others, including some oil and gas companies, are agreeing with this statement.”
Clean energy and innovative technologies aimed at lowering carbon emissions are moving in the “right direction”, driven by industrial policies and falling costs, not environmental regulations alone, he said.
“What happens if one or two or three or five countries change this policy direction? Are we going to see a stop or slowdown or going back?” he said.
“My answer is absolutely not.”
Mr Birol also emphasised the need for innovation in existing clean energy technology.
“We are seeing some bright spots in technologies such as lithium-ion batteries,” he said.
“[However], if you ask us if innovation is going as fast as we would like to see, the answer is not necessarily.”
The IEA expects renewable energy to make up more than one third of total electricity generation by early 2025, overtaking coal.
The “massive expansion” in renewable energy such as solar, wind and electric vehicles is “not enough” to reach net-zero emissions by 2050, Mr Birol said, while urging countries to also back clean technologies that are still in a nascent phase.
More than 50 countries are going to the polls in the next 10 months for presidential and legislative elections.
Most notably, elections will be held in India and the US, the world's biggest economy.
In the US, former president Donald Trump is likely to win the Republican nomination for the White House. He has promised to prioritise boosting US oil and gas production if elected.
John Kerry, President Joe Biden's special envoy for climate, said the global marketplace had made its decision about the energy transition.
“No individual politician, no finance minister, no prime minister, no monarch can change the course the world is on. This transition has to happen,” Mr Kerry said at the IEA event.
He also took an aim at China’s continued use of coal despite being the fastest growing market for renewable energy.
If China, the world’s second-largest economy, successfully builds planned renewable energy projects and manages them using advanced technologies like artificial intelligence, it could significantly reduce the need for new coal-fired power plants, Mr Kerry said.
The rate of expansion of global renewable energy capacity surged by 50 per cent in 2023, with solar accounting for three-quarters of the growth, according to the IEA.
China recorded the largest growth, with wind power additions rising 65 per cent year-on-year. However, coal still makes up about 56 per cent of the country’s total energy consumption.
At the 2021 UN General Assembly, President Xi Jinping pledged that China would increase its support for low-carbon energy in developing countries, and not build new coal-fired power projects overseas.
On Tuesday, Mr Kerry called it a “step forward” but said enforcing China's commitment had “proven to be complicated”.
“We still [see] most of the coal-fired power coming online in South-east and East Asia,” he added.
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
Bundesliga fixtures
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
BUNDESLIGA FIXTURES
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20101hp%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20135Nm%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%20Six-speed%20auto%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh79%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Match info
Athletic Bilbao 0
Real Madrid 1 (Ramos 73' pen)
UAE currency: the story behind the money in your pockets
Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
More from Armen Sarkissian
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.8-litre twin-turbo V8
Power: 611bhp
Torque: 620Nm
Transmission: seven-speed automatic
Price: upon application
On sale: now
Results
2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)
2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer
3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash
4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.
4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson
The specs
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed
Power: 720hp
Torque: 770Nm
Price: Dh1,100,000
On sale: now
MATCH INFO
Newcastle United 1 (Carroll 82')
Leicester City 2 (Maddison 55', Tielemans 72')
Man of the match James Maddison (Leicester)
LA LIGA FIXTURES
Friday Celta Vigo v Villarreal (midnight kick-off UAE)
Saturday Sevilla v Real Sociedad (4pm), Atletico Madrid v Athletic Bilbao (7.15pm), Granada v Barcelona (9.30pm), Osasuna v Real Madrid (midnight)
Sunday Levante v Eibar (4pm), Cadiz v Alaves (7.15pm), Elche v Getafe (9.30pm), Real Valladolid v Valencia (midnight)
Monday Huesca v Real Betis (midnight)
RACE CARD
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
10pm Handicap (TB) Dh102,500 (T) 1,400m
KEY HIGHLIGHTS
Healthcare spending to double to $2.2 trillion rupees
Launched a 641billion-rupee federal health scheme
Allotted 200 billion rupees for the recapitalisation of state-run banks
Around 1.75 trillion rupees allotted for privatisation and stake sales in state-owned assets
UAE currency: the story behind the money in your pockets
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
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The%20Beekeeper
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Allardyce's management career
Clubs (10) - Limerick (1991-1992), Perston North End (1992), Blackpool (1994-1996), Notts County (1997-1999), Bolton Wanderers (1999-2007), Newcastle United (2007-2008), Blackburn Rovers (2008-2010), West Ham United (2011-2015), Sunderland (2016), Crystal Palace (2016-2017)
Countries (1) - England (2016)
ARGYLLE
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