EIA releases latest International Energy Outlook, says renewables will replace oil as top world energy source by late 2040s
In its latest International Energy Outlook (“IEO”), the US Energy Information Administration (“EIA”) says renewable energy will displace oil as the world’s top energy source by the late 2040s. However, oil demand will continue to rise until 2050 as EIA Administrator Linda Capuano said renewables are not growing fast enough to meet demand. The EIA…