While the prime time for fossil fuels is forecasted to be on its way out, a major issue still lingers.

'This is the first time that a peak in demand is visible for each fuel this decade - earlier than many people anticipated,' he wrote. In an op-ed published in the Financial Times, Birol projected that demand for oil, gas and coal will peak before 2030. Oil prices are surging again, but according to Fatih Birol, executive director of the International Energy Agency (IEA), the era of continuous fossil fuel growth won't last much longer.