kimon keramidasFeb 6, 2025
"Drill, baby, drill"? What for? Looks like the #oilmarket is saturated and demand will be decreasing. Yes, it's #PeakOil demand, thanks to #electrification and #ClimateChange policies. According to @Grist: "The Gulf [of Mexico] accounts for 97 percent of all offshore oil and gas production in the U.S. Nearly 12 million acres are under active leases in the Gulf, but only about 2.4 million acres are being used to produce oil and gas"
https://grist.org/energy/trump-wants-more-drilling-but-the-oil-market-is-already-saturated/
Graph from the #JRCGECO report.
Trump wants more drilling, but the oil market is already saturated

Despite President's Trump directives, oil companies can't drill if there is little market for their product.

Grist
Show threadkimon keramidasDec 11, 2024
@janrosenow and if you go economy-wide you get such Sankey diagrams that show that you can transform your energy system, massively shift towards #electrification, reduce emissions, reduce wasted heat, all the while increasing energy services across the board to raise standards of living worldwide.
Source: #JRCGECO scenarios https://joint-research-centre.ec.europa.eu/scientific-activities-z/geco_en #energytransition
GECO

GECO provides a global picture of energy markets as they transform over the next decades, under the simultaneous interactions of economic development, technological innovation and climate policies.

EU Science Hub