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Page added on January 26, 2017

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BP: Global Energy Demand to Grow by a Third

Consumption

Global energy demand will grow by around a third, driven by a burgeoning Asian middle-class, according to BP’s latest energy outlook.

“Global demand grows by around a third in the base case, with virtually all of this increase consumed by fast growing emerging economies,” Spencer Dale, BP’s group chief economist, said.

In terms of the fuels meeting this increased demand, BP’s outlook points to a continuing shift in the fuel mix, with non-fossil fuels providing half of the increase in primary energy, Dale said.

“Even so, oil and gas, together with coal, continue to meet the majority of the world’s energy needs, accounting for more than three quarters of total energy supply in 2035,” he added.

Natural gas is also expected to grow more quickly than either oil or coal, overtaking coal to be the second largest fuel source by 2035.

BP’s Energy Outlook sets out a base case which outlines the ‘most likely’ path for global energy markets until 2035, based on assumptions and judgments about future changes in policy, technology and the economy.

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5 Comments on "BP: Global Energy Demand to Grow by a Third"

  1. Go Speed Racer on Thu, 26th Jan 2017 8:06 pm 

    Lots more global warming.
    We can plant coconut trees in Seattle.
    And Alaska.

  2. Midnight Oil on Thu, 26th Jan 2017 8:10 pm 

    Sure it will…now with Trump in office…
    Everything will be GREAT again…shoot..
    No environmental regulation, no global warming, no need for unions,…if that there is black goo or tight gas there….it will be
    put to WORK….BP says so….
    They have a track record to protect….

  3. shortonoil on Fri, 27th Jan 2017 7:11 pm 

    BP should set up a museum for all their predictions that did not come true. A poster board outside the men’s room should handle the rest?

  4. antaris on Fri, 27th Jan 2017 10:13 pm 

    Mid, I can see Sean S. In front of the cameras drinking a bottle of fracking water and telling us that it tastes great.
    All that negative talk about this great water is just alternative facts.

  5. Kenz300 on Sat, 28th Jan 2017 12:51 pm 

    Energy demand will grow.
    Energy supplied by wind and solar will grow.
    Energy supplied by fossil fuels will decline.

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