Energy / Energie

it is “well known” that even massive spending on high-tech did not find more new natural oil reserves

keep close eyes on “World Energy Outlook”: https://www.eia.gov/outlooks/aeo/

Proven reserves (millions of barrels) U.S. EIA (start of 2017)[2] OPEC (end of 2015)[3] BP (end of 2015)[4] Other Reserves-to-production ratio
Country Rank Reserves Rank Reserves Rank Reserves Source/Date Reserves Production (MMbbl/year, 2016)[1] Years
 Venezuela (see: Oil reserves in Venezuela) 1 300,878 1 300,878 1 300,900 831.1 362
 Saudi Arabia (see: Oil reserves in Saudi Arabia) 2 266,455 2 266,455 2 266,600 3818.1 69
 Canada (see: Oil reserves in Canada) 3 169,709 26 4,118[5] 3 172,200 Natural Resources Canada, end 2014[6] 171,000 1336.8 126
 Iran (see: Oil reserves in Iran) 4 158,400 3 158,400 4 157,800 1452.9 109
 Iraq (see: Oil reserves in Iraq) 5 142,503 4 142,503 5 143,100 1624.8 88
 Kuwait (see: Oil reserves in Kuwait) 6 101,500 5 101,500 7 101,500 1067.2 27
 UAE (see: Oil reserves in the United Arab Emirates) 7 97,800 6 97,800 8 97,800 1133.7 18
 Russia (see: Oil reserves in Russia) 8 80,000 7 80,000 6 102,400 3851.3 21
 Libya (see: Oil reserves in Libya) 9 48,000 8 74,363 9 78,400 366.1 131
 Nigeria (see: Oil reserves in Nigeria) 10 37,062 9 37,062 11 37,100 730.0 51
 United States (see: Oil reserves in the United States) 11 35,000 10 36,685 10 55,000 ENI, end of 2015[7] 43,629 3239.7 10
 Kazakhstan 12 30,000 11 30,000 12 30,000 582.2 52
 China 13 25,620 13 25,132 14 18,500 1452.9 17
 Qatar 14 25,244 12 25,244 13 25,244 555.9 5
 Brazil 15 12,999 14 16,184 15 13,000 ENI, end of 2015[7] 16,848 918.1 14
 Algeria 16 12,200 15 12,200 17 12,200 492.1 15
 Angola 17 / 18 8,273 17 9,524 16 12,700 645.9 22
 Ecuador 17 / 18 8,273 18 8,273 19 / 20 8,000 200.2 41
 Mexico (see: Oil reserves in Mexico) 19 7,300 16 9,711 18 10,800 PEMEX[8] Start of 2015 9.700 798.2 9
 Azerbaijan 20 7,000 19 7,000 21 7,000 304.2 23
 Norway 21 6,611 33 5,139 19 / 20 8,000 601.5 11

src: https://tradingeconomics.com/norway/crude-oil-production
src: https://tradingeconomics.com/norway/crude-oil-production

src: https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves

“in fact electricity demand fell in 18 out of 30 IEA member countries over the period 2010-2017. Several factors can account for this slowing of growth, but the key reason is energy efficiency.”

world electricity demand 2000-2017 1763TWh

“There have been a range of new sources of electricity demand growth in advanced economies, including digitalization and the electrification of heat and mobility.

However savings from energy efficiency have outpaced this growth.

Energy efficiency measures adopted since 2000 saved almost 1 800 TWh in 2017, or around 20% of overall current electricity use.” (src: iea.org)

  • efficiency (LED light bulbs)
  • slowing economic growth

i would add:

  • demographic (less people)