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Energy sector carbon emissions to peak in 2025 – IEA
New policies in the EU, the US and China will cause emissions to peak this decade, the first time this has been forecast in an IEA Steps scenario
Global carbon emissions set to rise in 2022 – IEA
World on course for 33.8bn t of CO₂ emissions this year, but major deployments of renewables and EVs have slowed rate of increase
Petronas clean energy unit targets rapid expansion
Gentari sets out strategy for aggressive buildout of renewables and hydrogen capacity
BP and Hertz to develop North American EV charging network
The oil major’s charging subsidiary will support Hertz’s growing EV fleet
Governments not collaborating enough on transition – IEA
Coordinated action urgently needed on deployment of clean technologies to avoid decades-long delay in reaching net zero, agency warns
Lithium prices to stay strong until 2024
Prices are expected to fall back as more production comes online in the middle of the decade, says Fitch Solutions
CCUS use must grow vastly to reach net zero
Analysis of scenarios by Transition Economist shows that even recent positive developments are not consistent with required deployment pathways
US act would expand credits for transition technologies
Bill would provide support to companies involved in the manufacture of wind turbine components, solar panels and EV batteries
BP to invest in UK EV battery-testing facility
Project will help develop fluid technologies for managing temperatures in batteries to improve efficiency
New US bill to unleash rapid clean energy deployment
The Inflation Reduction Act of 2022 includes long-term tax credits for clean hydrogen and carbon capture
The sun may be setting on the traditional petrol station
IEA EVs
Gregor Macdonald
Portland
22 March 2021
Follow @PetroleumEcon
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You will never guess who just declared peak gasoline…

The IEA has called the top of global demand, although it predicts demand for oil will continue to rise

The IEA surprised analysts and rippled oil markets last week when it declared global gasoline demand has now peaked. The call is uncharacteristically bold for the Paris-based agency, which has historically waited until trends are well established before raising the flag on such forecasts. While short-term reactions in the price of oil are often ripe for over-interpretation, Brent fell $4/bl on the week from $68 to $64, and actually touched $62 the day after IEA released its Oil 2021 report. If its outlook is correct, the downstream implications are significant in everything from the business of petrol filling stations to the refining industry. OECD gasoline demand has been stagnant for

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