This Bloomberg article called “The Myth of Peak Fossil-Fuel Demand Is Crumbling” looks like a good example of a journalist writing a fair and balanced data-driven article, and an editor then giving it an idiotic headline. So let’s ignore the headline. The article summarizes the International Energy Agency’s World Energy Outlook. I couldn’t find the 2025 edition online, so Bloomberg must have an advance copy.

Anyway, I found the scenarios interesting. They have a Current Policy Scenario, which assumes countries will continue their current policies (behaviors? these aren’t the exact same thing are they?) indefinitely into the future, a Stated Policies Scenario, which includes “policy proposals”, and an Announced Pledges Scenario which includes “political aspirations”. Under “Current Policies”, fossil fuel demand continues to rise through 2050, while in the other two it turns a corner right about now. I’m not sure I buy the graph though, because it shows a notable acceleration over the past few years, then a sharp corner today where a decline begins. That is generally not how trends work, unless we are expecting some catastrophic external event to happen today. Let’s hope not.

Am I hopeful? Not really, because this is only saying that the trend of too high emissions may get more too high or less too high over the next couple of decades. It is too high, and this is pushing our world toward or possibly already past a point of no return which we will never be able to fully recover from. Regardless, it is never too late to make things less bad than they could have been if no action was taken. The fact that our past actions have closed off some good outcomes forever is not an excuse not to take action that can avoid some really bad outcomes.

The real question to me is whether economic forces are pushing policy in the right direction, because if they are, politics can’t buck economics forever. So the most hopeful thing I can say is that economics may be creating some headwinds for bad policy. Trying to go full bore on renewables like parts of Europe have may be overreach in terms of near-term policy, but being ready to make a push on electrifying the transportation system when political winds shift may be a practical strategy. Let’s have those policies ready.