Tags: BUSINESS | CMD | CMDME | COS | CRUDE | ECO | EUNRGIND

BP Says World Energy Demand to Grow 40% by 2030

Wednesday, 19 Jan 2011 06:53 AM

 

BP Plc said global energy use will grow by almost 40 percent by 2030, led by demand from China, India, Russia, Brazil and other emerging economies.

Global energy demand growth is forecast to average 1.7 percent a year to 2030, BP said in its Energy Outlook 2030 report, which forecasts energy trends for the next 20 years.

Demand in non-OECD countries, or emerging economies which aren’t members of the Organization for Economic Cooperation and Development, is set to rise at a faster rate, averaging 2.6 percent a year through 2030, BP said.

“Non-OECD Asia will account for nearly two-thirds of non- OECD consumption growth over the next 20 years and more than three-quarters of the net global increase, rising by nearly 13 million barrels a day,” BP’s Chief Economist Christof Ruehl said in a press release.

The use of renewable energy sources such as solar, wind, geothermal and biofuels will “continue to grow strongly” to 18 percent in 2030 from 5 percent, BP said.

The Organization of Petroleum Exporting Countries’ share of global oil production is set to increase to 46 percent, the highest since 1977, according to BP’s forecast.


© Copyright 2015 Bloomberg News. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Reactions to Mitt Romney's Exit Mostly Gracious

Friday, 30 Jan 2015 13:46 PM

Mitt Romney's decision to opt out of running for the White House in 2016 is generating gracious reaction from other pote . . .

Hezbollah Leader 'Not Afraid' of War With Israel

Friday, 30 Jan 2015 10:07 AM

The leader of Lebanon's Hezbollah said on Friday his group did not want war with Israel but was ready for one, and reser . . .

Battle Lines Being Drawn on Obama's $4 Trillion Budget

Friday, 30 Jan 2015 13:30 PM

On Monday, when President Obama officially presents the proposed budget he outlined in a speech to House Democrats gathe . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved