Tony Hayward, CEO of BP, plane the global oil demand should hit his highest point between 2020 and 2030. Just last summer, Hayward was quoted as saying that he believed the demand for oil would peak decades into the future and that 60% of the world's energy will still come from fossil fuels in 2050.
BP says Hayward's adjustment in thinking is based on lower demand from western nations brought about by energy efficiency measures and greater use of renewable energy. Although Hayward's vision of the peak for oil consumption is now closer to the present, it greatly differs from many other predictions such as the German Deutsche Bank, which predicts the peak for oil will come within the next six years.
