The International Energy Agency (IEA) has published a new World Energy Outlook 2024 report, which predicts a decrease in energy prices in the coming decades due to the rapid development of clean technologies. According to the report, clean energy will satisfy almost all the growth in electricity demand between 2023 and 2035, which will lead to a peak in demand for oil, gas and coal until 2030. Oil prices, for example, are expected to be around $79 per barrel in 2030, which is higher than current prices, but will then decline. In a scenario in which the global community reaches the goal of zero net carbon emissions and effectively limits global warming, oil prices could fall to $25 per barrel by 2050. The spread of electric vehicles, led by China, will have a significant impact on the oil market. The IEA estimates that by 2030, the share of electric vehicles in new car sales worldwide will reach 50%, displacing about 6 million barrels of oil demand. However, the IEA warns of the potential risks associated with cheaper natural gas. According to experts, this may slow down structural changes towards green energy, as consumers may prefer a more affordable option, even if it is not as environmentally friendly. Overall, the IEA report paints an optimistic outlook for the future of energy, where clean technologies play a key role in ensuring sustainable development.
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