The challenges of moving from fossils to renewables

Mr. Choeib Boutamine

November 8, 2024

Ms. Svetlana Tretyakova says that the so-called “peak oil” is still unattainable as there will be growing oil demand in the coming years with a possibility of demand stability in the long term.

She points out that it is unlikely to see a remarkable growth in energy transition in the short term. For instance, the growth of electric cars investments remains limited to just few parts of the world like Europe and China, adding that other transportation sectors (like the maritime sector) are far from keeping up with the energy transition goals, due to the high cost of infrastructure, and lack of skill-ability.

Mr. Choeib Boutamine, for his part, gives the example of India, stating that 80 % of the country’s generated electricity comes from coal. In this case, charging an EV in India is more polluting thanfilling up a Diesel car.

He adds that renewables produce only electricity, while oil is a source of petrochemicals and not only energy.

Both Energy experts agree that investments in oil should carry on as demand require more supply, insisting that investments in renewables should not be at the expanse of oil investments.

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