Saturday, March 07, 2026

Does the world still run on oil?

The other thing the current oil crisis has brought home to me is the extent to which we still rely on oil. A depressing article in the Globe and Mail entitled "What energy transition? The Middle East war shows the world still runs on oil", pointed out that 87% of total global energy in the 1970s was from fossil fuels (oil, gas and coal), and that figure today is still 81%. 

And that does seem to be the case: the Energy Institute's 2024 Statistical Review of World Energy shows that primary energy consumption is filled 31.7% by oil, 26.5% by coal, 23.3% by natural gas (so, 81.5% by fossil fuels in total), 4.0% by nuclear, 6.4% by hydroelectricity, and 8.2% by other renewables (mainly wind and solar). So, 18.6% could be called carbon-free. Furthermore, overall energy consumption is still increasing at a pretty steady clip.

A more granular look shows that the contibution from renewables is still increasing, and increasing faster than the other sources, much of that due to China. So, the picture could be substantially different in a few years time. But it's still a pretty depressing picture, and all the more worrying since the move away from fossil fuels has noticeably slowed in the last year or so, mainly due to the single-handed influence of one, Donald Trump.

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