The oil cartel is living in a time-warp, seemingly unaware that global energy politics have changed forever OPEC remains defiant.
Global reliance on oil and gas will continue unchanged for another quarter century. Fossil fuels will make up 78pc of the world’s energy in 2040, barely less than today.
There will be no meaningful advances in technology. Rivals will sputter and mostly waste money. The old energy order is preserved in aspic.
Emissions of CO2 will carry on rising as if nothing significant had been agreed in a solemn and binding accord by 190 countries at the Paris climate summit.
OPEC’s World Oil Outlook released today is a remarkable document, the apologia of a pre-modern vested interest that refuses to see the writing on the wall.

Read more @

http://iretex..com/2015/12/opec-faces-mortal-threat-from-electric.html

hmm