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As someone who has read rather a lot of IEA publications over the years and noted the overall "tone" of the organisation's views as well as its' original purpose, I'd take IEA alarm about climate change as a code word for "peak oil is here but we can't say that so we're making comments about CO2 in order to sort of explain away what's about to happen as being necessary to protect the environment when in reality it's unavoidable no matter what the climate does".I started the discussion with the IEA energy report. The IEA is considered an independent world authority on energy resources. It is certainly no Government think tank. If anything it is aligned to the fossil fuel industry
There's half a century of data to back the peak oil case and it looks pretty convincing both "on paper" and in terms of recent events. My own suspicion is that the level of talk surrounding CO2 has more to do with lack of fuel to burn than genuine concern about the effects of burning it.
Take China. They already use literally half the world's coal and have become a net importer. How can they possibly sustain such a growth rate? Who is going to mine it? Where are the thousands of ships to carry it going to come from? How are they going to actually get into and out of the ports? How on earth could the coal exporting countries cope with such a rapid infrastructure build? Some growth maybe, but the days of booming consumption would seem to be limited indeed.
And then there's oil. China, with 4 times the US population, wants a US lifestyle. The US today uses 25% of the world's oil, meaning that China is going to need literally the whole lot. Now where's that going to come from? Not even the most optimistic proponents of shale, drilling in the arctic and so on are saying we're going to see that sort of production increase ever. So that's not going to happen either.
Hence I'd take any IEA panic about CO2 as more an indication of the state of the oil, and to a lesser extent coal, markets than anything else.