BP Energy Outlook

http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7066695

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BP’s ‚base case’ – or most likely projection – points to primary energy use growing by nearly 40% over the next twenty years, with 93% of the growth coming from non-OECD (Organisation of Economic Co-operation and Development) countries. Non-OECD countries are seen to rapidly increase their share of overall energy demand from just over half currently to two-thirds.

Over the same period, energy intensity, a key measure of energy use per unit of economic output, is set to improve globally led by rapid efficiency gains in the same non-OECD economies, under these projections

According to the BP Energy Outlook, diversification of energy sources increases and non-fossil fuels (nuclear, hydro and renewables) are together expected to be the biggest source of growth for the first time. Between 2010 to 2030 the contribution to energy growth of renewables (solar, wind, geothermal and biofuels) is seen to increase from 5% to 18%.

Natural gas is projected to be the fastest growing fossil fuel, and coal and oil are likely to lose market share as all fossil fuels experience lower growth rates. Fossil fuels’ contribution to primary energy growth is projected to fall from 83% to 64%. OECD oil demand peaked in 2005 and in 2030 is projected to be roughly back at its level in 1990. Biofuels will account for 9% of global transport fuels.

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