Predicting when global economies will reach peak oil demand is a constant debate within the industry. Originally reported to be sometime during the 2030’s, new data suggests that peak oil demand could take place far earlier than many analysts and companies previously thought as early as 2023 according to Distributed Energy Magazine.
Because of this, a handful of energy companies with petroleum interests have begun diversifying their energy portfolios. For example, Royal Dutch Shell announced the goal of reducing the net carbon footprint of its energy products by 20% by 2035, and by 50% by 2050. Recently, they built a microgrid at one of their facilities in Houston in order to test and develop new technologies and clean energy solutions.
A project like this is an important step and sets a shining example for other forward thinking companies to prepare for the clean energy future. Do you see this as a trend that will inspire the diversification of more energy company portfolios in the next decade?
