"Doug McIntyre: Lee, those of us who follow the oil companies and just fossil fuels in general, often hear about something called peak oil. I've heard two meanings of that. One is when you hit a peak of supply, the other one is when you hit hit a a, a demand peak, right? So I'm gonna talk about the demand peak right now."
"People assume that within the next decade, renewables, particularly wind, solar, and nuclear, we're going to take up enough generation of electricity that you wouldn't need oil and coal, that they would shrink over time. Okay. The two big oil executives have said within the last month, "Are you kidding me? Peak oil. Are you kidding me?" 30, maybe 40 years from now."
"But AI is everything now, isn't it? You can't talk about anything without AI. If you look at what is going to have to be the server center capacity to provide electricity just in the United States, forget any place else in the world. The number I heard yesterday was is if you take a large data center facility like the one that's being built down-"
Peak oil can mean either a supply peak or a demand peak. Current expectations assume renewables like wind, solar, and nuclear will reduce reliance on oil and coal within a decade. Major oil executives predict demand peaks decades away and say production continues because consumers keep demanding oil. Rapid AI growth will greatly increase electricity demand from very large data centers. Some large AI service centers could require the output of multiple nuclear reactors. Solar and wind deployment may not scale fast enough to meet these new electricity needs, implying continued relevance of traditional energy sources.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]