Developed countries are expecting to see their oil consumption slow, plateau and then slowly decrease through 2030 and beyond. Developing nations' economic growth will more than make up for this loss in demand and therefore push peak oil further down the road.

Going forward, India in particular will develop their clean energy sector at least as quickly as any other major country. However, their demand for energy is expected to grow so quickly that the only outcome is increased demand for oil.

Indian Jet Fuel Consumption Is Expected To Grow By Up To 10% Per Year. #

Compared to France for example, India has a landmass over 6 times larger, with more than 20 times the population. Currently, both countries consume around the same amount of jet fuel. As India's development continues apace, people will fly more, a lot more. Internal flights in particular will expand rapidly. Indian jet fuel consumption is expected to grow by up to 10% per year. #

The Indian middle class is exploding in size, wealth and power. They have disposable incomes and many are looking to enjoy their hard earned prosperity. Traveling more often, on short breaks and long haul holidays. Buying more stuff for their homes and generally consuming much more energy.

Less well off Indian people are able to cook with cleaner more convenient oil and gas instead of dirty, time consuming coal or wood. This simple shift in cooking fuel type has major implications for a country with nearly 1.5 billion people. The government is investing in new refineries, in preparation of the future surge in demand.

Continually expanding industry will be the main driver of increased oil and gas demand.

40% More Road Vehicles

India is a world leader in ethanol biofuel blending in gasoline. 40% more vehicles are expected on Indian roads by 2030. The uptake of electric vehicles and biofuels will nearly fully offset this massive increase in vehicles, keeping demand for oil based fuel constant. Possibly a relatively small increase in oil based fuel at around 1% or 2% annually.

About The Author
Pablo Manente
Chewells Contributor

Pablo writes about Africa, oil, politics, human rights and many other subjects. He is a full time... »

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Replies

• Aba Selassie (Apr 9, 2024)
  India produces about 15% of it's domestic demand. This makes them a large importer, in fact one of the largest in the world. Demand for oil is still growing in India. They are increasing production of Ethanol and have lots of organic waste material to increase production many times more. Mixing ethanol with gasoline reduces their crude oil demand.
• Amanda Duarte (Mar 30, 2024)
  40% extra vehicles require 40% more lanes on motorways, more tyres, exhausts, mechanics and everything else to keep drivers driving.

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