{"id":133457,"date":"2022-06-22T13:46:20","date_gmt":"2022-06-22T13:46:20","guid":{"rendered":"https:\/\/swissfederalism.ch\/picco-domanda-petrolio-dinamiche-mercato-globale\/"},"modified":"2022-06-22T14:11:39","modified_gmt":"2022-06-22T14:11:39","slug":"peak-oil-demand-change-global-market-dynamics","status":"publish","type":"post","link":"https:\/\/swissfederalism.ch\/en\/peak-oil-demand-change-global-market-dynamics\/","title":{"rendered":"Peak oil demand will change global market dynamics"},"content":{"rendered":"<h1 class=\"entry-title\"><span class=\"font-377884\">Peak oil demand will change global market dynamics<\/span><\/h1>\n<h3><span class=\"font-377884\"><em>Except for the recent dip in demand because of Covid-19, oil producers are enjoying the higher prices that come with increased consumption. But consumers may get the upper hand by 2040.<\/em><\/span><\/h3>\n<figure id=\"attachment_133436\" aria-describedby=\"caption-attachment-133436\" style=\"width: 840px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/swissfederalism.ch\/picco-domanda-petrolio-dinamiche-mercato-globale\/pump-jack-mining-crude-oil-with-the-sunset-photo-by-zbynek-burival-on-unsplash\/\" rel=\"attachment wp-att-133436\"><img decoding=\"async\" class=\"size-large wp-image-133437\" src=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-1024x700.jpg\" alt=\"Pump-jack mining crude oil with the sunset Photo by Zbynek Burival on Unsplash\" width=\"840\" height=\"574\" srcset=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-1024x700.jpg 1024w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-300x205.jpg 300w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-768x525.jpg 768w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-1536x1050.jpg 1536w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-2048x1400.jpg 2048w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pump-jack-mining-crude-oil-with-the-sunset-Photo-by-Zbynek-Burival-on-Unsplash-scaled.jpg 2560w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/><\/a><figcaption id=\"caption-attachment-133436\" class=\"wp-caption-text\"><span class=\"font-377884\">Pump-jack mining crude oil with the sunset Photo by Zbynek Burival on Unsplash<\/span><\/figcaption><\/figure>\n<h2 class=\"toc-only\" style=\"text-align: center;\"><span class=\"font-377884\" style=\"color: #ff0000;\">In a nutshell<\/span><\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><span class=\"font-377884\">Oil is used more efficiently today while its share of energy consumption has dropped<\/span><\/li>\n<li><span class=\"font-377884\">However, driven by Asia, global demand for oil continues to rise in absolute terms<\/span><\/li>\n<li><span class=\"font-377884\">Forecasts vary, but worldwide oil consumption is expected to peak in 20 years<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\"><span class=\"font-377884\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p class=\"has-drop-cap\"><span class=\"font-377884\">The world is scrambling to find new oil supplies\u00a0because of inadequate investment over the last few years. This reluctance to invest was partially driven by expectations that oil demand growth would slow. It has not so far (except for the hit it took during the height of the Covid-19 pandemic).<\/span><\/p>\n<p><span class=\"font-377884\">Typically, investors analyze how the market and particularly oil demand will look many years ahead because of the long-term nature of oil projects. A relatively new question is increasingly considered in these assessments, namely when oil consumption will peak in the world.<\/span><\/p>\n<p><span class=\"font-377884\">After peak oil demand is reached, it will at some point plateau and then shrink. In a growing market, there is space for everyone. In a shrinking market,\u00a0for one country to increase production, supply from another country is squeezed out, usually done by price competition. In such a world, market power will shift toward consumers. Today they are desperately looking for oil; tomorrow they will be in a much stronger position.<\/span><\/p>\n<p><span class=\"font-377884\"><strong><a href=\"https:\/\/swissfederalism.ch\/en\/what-if-russia-cuts-off-gas-to-europe\/\">What if Russia cuts off gas to Europe? Three scenarios<\/a><\/strong><\/span><\/p>\n<p><span class=\"font-377884\"><strong><a href=\"https:\/\/swissfederalism.ch\/en\/how-long-will-high-inflation-last\/\">How long will high inflation last?<\/a><\/strong><\/span><\/p>\n<h2 id=\"h-changing-map\"><span class=\"font-377884\">Changing map<\/span><\/h2>\n<p><span class=\"font-377884\">Oil has dominated the world\u2019s primary energy mix for nearly six decades. Although its share peaked in the mid-1970s, when it accounted for almost half of the world\u2019s energy consumption, its demand continues to grow in absolute terms. For instance, in 2019, each day, the world consumed more than three times the number of oil barrels than it did in 1965.<\/span><\/p>\n<p style=\"text-align: center;\"><span class=\"font-377884\" style=\"color: #ff0000;\"><em>Market power will shift toward consumers. Today they are desperately looking for oil; tomorrow they will be in a much stronger position.<\/em><\/span><\/p>\n<p><span class=\"font-377884\">First, for decades, oil demand was concentrated in the developed world \u2013 the 38 members of the\u00a0Organisation for Economic Co-operation and Development (OECD)\u00a0\u2013 which accounted for around 75 percent of total oil consumption in 1965. Since 2013, however, the demand for oil in the non-OECD countries (or the developing economies) has exceeded that of the developed world and in 2019 it accounted for 54 percent of global oil consumption.<\/span><\/p>\n<p><span class=\"font-377884\">Second, in the OECD countries, oil demand peaked in 2005 at around 50 million barrels per day (mb\/d). What has been driving the growth in global demand is the developing world,\u00a0primarily Asia\u00a0(mainly China and India \u2013 the second- and third-largest oil consumers in the world after the United States) and the Middle East (led by Saudi Arabia, which is also the\u00a0sixth-largest consumer\u00a0in the world). Between 2009 and 2019, almost all the growth in global oil demand was driven by the developing world, with Asia expected to continue to be the growth center in the coming years.<\/span><\/p>\n<h2 id=\"h-trend-drivers\"><span class=\"font-377884\">Trend drivers<\/span><\/h2>\n<p><span class=\"font-377884\">The key triggers behind these trends are primarily efficiency improvements, policy, interfuel substitution, slower population growth and, increasingly, the electrification of the transport sector.<\/span><\/p>\n<p><span class=\"font-377884\">A recently published\u00a0report\u00a0by Columbia University finds that the world\u2019s oil intensity \u2013 the volume of oil needed to produce a fixed economic output, which is a broad measure of efficiency \u2013 has been constantly declining in a linear trend since 1984. In 1973, for example, when oil intensity was at its zenith, the world used a little less than one barrel of oil to produce $1,000 worth of gross domestic product (GDP). By 2019, global oil intensity was 0.43 of a barrel per $1,000 of global GDP \u2013 a 56 percent decline. Oil has become a lot less important, and humanity has become more efficient in making use of it, the authors concluded. The main driver has been technology as well as the globalization of markets, which enables a faster diffusion of technical innovation.<\/span><\/p>\n<figure id=\"attachment_133448\" aria-describedby=\"caption-attachment-133448\" style=\"width: 683px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/swissfederalism.ch\/picco-domanda-petrolio-dinamiche-mercato-globale\/hybrid-vehicle-photo-by-isaac-quesada-on-unsplash\/\" rel=\"attachment wp-att-133448\"><img decoding=\"async\" class=\"size-large wp-image-133449\" src=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-683x1024.jpg\" alt=\"Hybrid vehicle Photo by Isaac Quesada on Unsplash\" width=\"683\" height=\"1024\" srcset=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-683x1024.jpg 683w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-200x300.jpg 200w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-768x1152.jpg 768w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-1024x1536.jpg 1024w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-1365x2048.jpg 1365w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Hybrid-vehicle-Photo-by-Isaac-Quesada-on-Unsplash-scaled.jpg 1707w\" sizes=\"(max-width: 683px) 100vw, 683px\" \/><\/a><figcaption id=\"caption-attachment-133448\" class=\"wp-caption-text\"><span class=\"font-377884\">Hybrid vehicle Photo by Isaac Quesada on Unsplash<\/span><\/figcaption><\/figure>\n<p><span class=\"font-377884\">A combination of oil price shocks and policy has encouraged the substitution of oil with other fuels. For example, in 1973, just before the first oil shock when Arab countries in\u00a0<a href=\"https:\/\/www.opec.org\/opec_web\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\">OPEC<\/a>\u00a0curtailed their supplies in retaliation for Western support for Israel in its war against Egypt, oil accounted for 25 percent of world electricity generation. However, following the subsequent rise in oil prices and the consumers\u2019 quest for greater security of supply, oil\u2019s share in power generation dropped to less than 3 percent by 2019, as it was crowded out by other fuels, primarily natural gas, renewable and nuclear energy.<\/span><\/p>\n<p><span class=\"font-377884\">Oil has maintained its dominance in the transport sector, which absorbs around 57 percent of the total oil consumed in the world. That dominance, however, is facing a serious threat \u2013 the electrification of mobility. In 2012, only 130,000 electric vehicles (EVs) were sold globally, accounting for 0.01 percent of total cars sold during that year. In 2021, that number jumped to over 6.6 million EVs or 9 percent of the global car market and more than tripling the market share of EVs from two years earlier, according to the International Energy Agency (IEA). The trend is expected to continue and even accelerate as more countries announce bans on the sale of new diesel or gasoline cars or commit to the deployment of EVs. For instance, the U.S. wants to make half of all new vehicles sold in the country in 2030 zero-emissions vehicles while the United Kingdom announced a ban on new gasoline and diesel cars and vans by 2030.<\/span><\/p>\n<h2 id=\"h-forecasts\"><span class=\"font-377884\">Forecasts<\/span><\/h2>\n<p><span class=\"font-377884\">Only a few years ago, peak oil demand did not feature in various sectors\u2019 forecasts. In 2010, the IEA included a peak for world oil demand for the first time in one of its energy outlook scenarios. Since then, peak demand has gained greater prominence in most industry forecasts. In its 2020 World Energy Outlook, BP presented two scenarios where oil demand would never recover to its pre-pandemic levels. Even OPEC, which had a historically bullish outlook for oil demand, acknowledged oil demand peaking in one of its 2020 publications.<\/span><\/p>\n<figure id=\"attachment_133444\" aria-describedby=\"caption-attachment-133444\" style=\"width: 840px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/swissfederalism.ch\/picco-domanda-petrolio-dinamiche-mercato-globale\/foto-di-alexandra_koch-da-pixabay\/\" rel=\"attachment wp-att-133444\"><img decoding=\"async\" class=\"size-large wp-image-133445\" src=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Foto-di-Alexandra_Koch-da-Pixabay-1024x724.jpg\" alt=\"Foto di Alexandra_Koch da Pixabay\" width=\"840\" height=\"594\" srcset=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Foto-di-Alexandra_Koch-da-Pixabay-1024x724.jpg 1024w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Foto-di-Alexandra_Koch-da-Pixabay-300x212.jpg 300w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Foto-di-Alexandra_Koch-da-Pixabay-768x543.jpg 768w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Foto-di-Alexandra_Koch-da-Pixabay-1536x1086.jpg 1536w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Foto-di-Alexandra_Koch-da-Pixabay.jpg 1920w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/><\/a><figcaption id=\"caption-attachment-133444\" class=\"wp-caption-text\"><span class=\"font-377884\">Foto di Alexandra_Koch da Pixabay<\/span><\/figcaption><\/figure>\n<p><span class=\"font-377884\">However, the year when that peak will happen and at what level vary significantly between publications and even within the same publication. The reason being the differences in assumptions related to variables such as the economic outlook for the forecasted period, decarbonization policies, population growth, the penetration rate of EVs, energy efficiency gains, carbon prices, as well as the rate of deployment of renewable energy sources.<\/span><\/p>\n<p><span class=\"font-377884\">While some projections indicate that oil demand might have already peaked (according to the IEA\u2019s Net Zero Scenario, which assumes a strong stance toward achieving climate policies), others find demand peaking within the next five to 10 years (such as BP\u2019s New Momentum, and Equinor\u2019s Reforms). A very few, most notably OPEC, expect oil demand to plateau by 2040.<\/span><\/p>\n<h2><span class=\"font-377884\">Facts &amp; figures<\/span><\/h2>\n<ul>\n<li><span class=\"font-377884\">In 2020,\u00a0oil accounted for 31% of the world\u2019s primary energy needs followed by coal (27%), natural gas (25%), hydropower (7%), renewable energy (6%) and nuclear energy (4%)<\/span><\/li>\n<\/ul>\n<figure id=\"attachment_133440\" aria-describedby=\"caption-attachment-133440\" style=\"width: 840px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/swissfederalism.ch\/picco-domanda-petrolio-dinamiche-mercato-globale\/pumping-gas-at-gas-pump-closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-photo-by-engin-akyurt-on-unsplash\/\" rel=\"attachment wp-att-133440\"><img decoding=\"async\" class=\"size-large wp-image-133441\" src=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-1024x768.jpg\" alt=\"Pumping gas at gas pump. Closeup of man pumping gasoline fuel in car at gas station Photo by engin akyurt on Unsplash\" width=\"840\" height=\"630\" srcset=\"https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-1024x768.jpg 1024w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-300x225.jpg 300w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-768x576.jpg 768w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-1536x1152.jpg 1536w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-2048x1536.jpg 2048w, https:\/\/swissfederalism.ch\/wp-content\/uploads\/2022\/06\/Pumping-gas-at-gas-pump.-Closeup-of-man-pumping-gasoline-fuel-in-car-at-gas-station-Photo-by-engin-akyurt-on-Unsplash-scaled.jpg 2560w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/><\/a><figcaption id=\"caption-attachment-133440\" class=\"wp-caption-text\"><span class=\"font-377884\">Pumping gas at gas pump. Closeup of man pumping gasoline fuel in car at gas station Photo by engin akyurt on Unsplash<\/span><\/figcaption><\/figure>\n<ul>\n<li><span class=\"font-377884\">The Covid-19 pandemic caused one of the biggest oil demand shocks the world has ever known, eroding nearly 10% of the world\u2019s demand overnight as mobility was restricted<\/span><\/li>\n<li><span class=\"font-377884\">The European Union was the first to see oil demand peaking in 1979 at 13.84 mb\/d, to be followed by Japan in 1996 at 5.94 mb\/d and the U.S. in 2005 at 20.53 mb\/d<\/span><\/li>\n<li><span class=\"font-377884\">In\u00a0COP26,\u00a027 countries committed to making all sales of new cars and vans zero emissions by 2040<\/span><\/li>\n<li><span class=\"font-377884\">BP expects a high penetration rate of EVs in all its scenarios ranging between 42.5-79.6% of the global car fleet by 2050. In contrast, OPEC has a conservative forecast of under 20% by 2045<\/span><\/li>\n<li><span class=\"font-377884\">Asia Pacific is the world\u2019s largest oil-consuming region, accounting for\u00a038% of global oil demand<\/span><\/li>\n<\/ul>\n<h2><span class=\"font-377884\">Scenarios<\/span><\/h2>\n<p><span class=\"font-377884\">Despite the divergences, the consensus is that global oil consumption will peak within the next 20 years. However, all forecasts will be affected by today\u2019s circumstances and assumptions used in long-term energy models will be revisited accordingly. The recent rapid rise in oil prices and the growing fears about the security of supplies will tilt those forecasts toward an acceleration of peak demand.<\/span><\/p>\n<p><span class=\"font-377884\">The OECD experience shows that even when demand peaks, it need not fall off a cliff. However, because of that peak, major oil exporters such as OPEC producers, Russia or even the U.S., are changing their trade patterns as they increasingly turn to Asia, the main driver of growth in oil demand. Once global oil demand peaks and starts to fall, competition among those producers to sell more oil and safeguard market share will intensify.<\/span><\/p>\n<p><span class=\"font-377884\">In a stagnant or shrinking market, producers will face new rules, very different from the ones they have been accustomed to. OPEC\u2019s strategy of cutting supplies to increase prices or Russia threatening to cut its supplies to keep sanctions off its oil exports will no longer work. Higher prices will attract additional production, as it always does. In a growing market that production need not depress prices as there can always be space for everyone. In a shrinking market, however, it will force prices lower. Deliberate attempts to cut production to raise prices would simply backfire. The consumer will end up holding most of the chips.<\/span><\/p>\n<p><span class=\"font-377884\">Of course, this will not happen overnight, but it is a scenario that oil-rich countries surely ought to consider today. Two decades is not a long time frame in the oil industry.<\/span><\/p>\n<p><span class=\"font-377884\">Author: <strong>Dr. Carole Nakhle<\/strong> founder and CEO of Crystol Energy, an advisory, research and training firm based in London for <a href=\"http:\/\/www.gisreportsonline.com\">www.gisreportsonline.com<\/a><\/span><\/p>\n<p><span class=\"font-377884\">Source:<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"5cW7vJ24AC\"><p><a href=\"https:\/\/www.gisreportsonline.com\/r\/peak-oil-demand\/\">Peak oil demand will change global market dynamics<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Peak oil demand will change global market dynamics&#8221; &#8212; GIS Reports\" src=\"https:\/\/www.gisreportsonline.com\/r\/peak-oil-demand\/embed\/#?secret=wT5vWARgd8#?secret=5cW7vJ24AC\" data-secret=\"5cW7vJ24AC\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Once the peak is reached, the demand for oil will stabilise and then decline. In a growing market, there is room for everyone. In a shrinking market, if one country increases production, another country&#8217;s supply is eliminated, usually through price competition. In such a world, market power will shift to consumers. Today they are desperate for oil; tomorrow they will be in a much stronger position.<\/p>\n","protected":false},"author":14,"featured_media":133437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[256,1698,988,260,210,305,1999],"tags":[795,1799,1326,263,2053],"class_list":["post-133457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-environment","category-geopolitics","category-highlights","category-magazine","category-politics","category-technology","tag-economy","tag-efficiency","tag-energy-3","tag-future","tag-oil"],"_links":{"self":[{"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/posts\/133457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/comments?post=133457"}],"version-history":[{"count":2,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/posts\/133457\/revisions"}],"predecessor-version":[{"id":133459,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/posts\/133457\/revisions\/133459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/media\/133437"}],"wp:attachment":[{"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/media?parent=133457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/categories?post=133457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swissfederalism.ch\/en\/wp-json\/wp\/v2\/tags?post=133457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}