Japan oil demand cut could be swift
The Asian nation’s consensus culture means renewable energy could very quickly take a substantial chunk out of conventional hydrocarbons requirements
The International Energy Agency’s November World Energy Outlook projects only a relatively minor difference of 54mn t oe in Japan’s 2040 oil demand between the country’s “stated policies” and “sustainable development” scenarios. But such a conservative projection for the latter may understate the impact of strengthening political and corporate will in Japan to turn away from fossil fuels. The country’s culture places an overriding importance on consensus. This means that major policy shifts are usually slow to achieve. On the other hand, once an aim is defined, all stakeholders will work tirelessly and collegiately to achieve that goal. Witness the country’s economic recovery after defeat in
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