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BP releases Energy Outlook 2035

18 February 2015

BP has released the 2015 edition of their annual Energy Outlook, covering world’s energy consumption trends over the period of 2015-2035. In spite of the recent volatility in energy markets, ongoing economic expansion in Asia—particularly in China and India—is predicted to drive continued growth in the world’s demand for energy over the next 20 years, with global demand for energy expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year.

Key energy trends predicted by the Outlook are:

The Outlook also considers global CO2 emissions to 2035 based on its projections of energy markets and carbon-related policies. The projection shows emissions rising by 1% a year to 2035, or by 25% over the period. This growth trajectory is significantly above the path recommended by scientists as illustrated, for example, by the IEA’s “450 Scenario”, noted BP.

To abate carbon emissions further would require additional significant steps by policy makers beyond the steps already assumed, and the Outlook provides comparative information for possible options and their relative impacts on emissions.

Source: BP