Understanding the Future of Oil and Renewables

What was the initial prediction made by the geoscientist for Shell in 1956?

• Oil production would peak around 2000.

• Oil production would decline steadily.

• Oil production would never peak.

• Oil production would peak in 2020.

What major change in energy consumption is highlighted in the early 2000s?

• A rise in nuclear energy use.

• A decrease in fossil fuel dependency.

• An increase in electric vehicle adoption.

• A decline in renewable energy use.

What is the new concern regarding oil, as opposed to the past concern of supply?

• A peak in oil demand.

• A peak in oil supply.

• A decline in renewable energy.

• An increase in nuclear energy.

What technology has significantly contributed to maintaining oil supply?

• Nuclear reactors.

• Solar panels.

• Wind turbines.

• Hydraulic fracturing (fracking).

What is the predicted timeline for the peak in oil demand according to the International Energy Agency?

• 2025

• 2030

• 2040

• 2050

How are major oil companies responding to the shift in energy demand?

• By increasing oil production.

• By focusing solely on nuclear energy.

• By investing heavily in renewables.

• By completely abandoning fossil fuels.

What risk do oil companies face with new fossil fuel projects?

• Increased demand.

• Decreased supply.

• Immediate profitability.

• Becoming stranded assets.

What financial impact could the transition to renewables have on countries reliant on oil?

• No impact on fiscal budgets.

• Risk to a significant portion of fiscal budgets.

• Stable economic growth.

• Increased fiscal budgets.

Why is investing in renewables considered a smart financial decision?

• They are cheaper and less risky.

• They are more expensive than fossil fuels.

• They are less efficient than fossil fuels.

• They have a higher risk of becoming stranded.

What role do fossil fuels currently play in energy production?

• They are the only source of renewable energy.

• They are no longer used.

• They are used as backup power.

• They are the primary source of energy.