BP: Global energy demand to soar one third by 2040

18 Février, 2019, 10:02 | Auteur: Therese Cote
  • Global energy demand set to plateau by 2035

In a significant change to BP's outlook past year, India takes over the mantle of the world's largest growth market for energy from China, where demand has been cut by 7 per cent or 300 million tonnes of oil equivalent.

Renewables will be the world's principal source of power by 2040 and are penetrating world grids faster than any other energy source in history, O&G major BP has said.

"The fact that the world would need to invest heavily in oil, nearly irrespective of how the global energy system evolves over the next 20 years is something which I don't think is well understood today", said BP chief economist Spencer Dale on releasing the outlook in London overnight Australian time.

Industry and buildings will account for three-quarters of the growth, with energy demand from transport slowing relative to the past because of vehicle efficiency gains.

Meanwhile, natural gas consumption will grows by 50 percent over the next 20 years, increasing in virtually every corner of the globe, the forecast said.

Dale said renewables are poised to reach 10% share in 25 years, "more quickly than any energy in history", in the evolving transition scenario.

The outlook for coal is much bleaker in BP's "rapid transition" scenario, a scenario roughly in line with the Paris climate targets, with global consumption crashing by 71 per cent, mostly through the substantial decarbonisation of the power generation sector.

BP has said the required carbon price would be set to around US$200 per tonne of CO2 in Organisation for Economic Co-operation and Development (OECD) countries by 2040 and US$100 in non-OECD countries.

Theresa May prepares for fresh talks with EU leaders
However, some British Conservative MPs say a "no-deal" would be a better outcome than any form of a fragile agreement with the EU. 'She can't keep on just running down the clock and hoping that something will turn up that will save her day and save her face.

JetBlue passenger kicked off flight after yelling about child, spitting at others
Gonzalez said in the video. "Oh, you wanna f-- tape me?" "Oh because I called someone old I get kicked off the (expletive) plane. Valerie Gonzalez, 50, was on a JetBlue flight bound for Las Vegas when she found out she had been seated next to a child.

Accusé d'agression sexuelle, le producteur Éric Salvail a comparu
La Presse avait rapporté en octobre 2017 plusieurs allégations d'inconduites sexuelles à l'endroit d'Éric Salvail. Plus précisément, les gestes reprochés auraient été posés entre le 1er avril et le 30 novembre 1993, à Montréal.

"Predicting how this energy transition will evolve is a vast, complex challenge. Our strategy offers us the flexibility and agility we need to meet this uncertainty head on", Dudley said.

Changing perceptions regarding the sustainability of the world's current energy model is starting to affect investment decisions by a range of stakeholders, as well as consumers, some of whom are investing in distributed energy generation and electric vehicles.

Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, Britain's BP forecast yesterday.

It takes years for a new energy source to achieve widespread use.

The most pertinent scenario within BP's Outlook is perhaps "Rapid Transition", as this is the only scenario that deliver emissions reductions over the next two decades consistent with the ambition established within the Paris Climate Agreements.

The Energy Outlook explores the forces shaping the global energy transition out to 2040 and the key uncertainties surrounding that transition, according to BP. Also during the period, shipments of liquefied natural gas - a form of the fuel chilled to its liquid state and exported by ship - will continue to grow, ultimately accounting for 15 percent of gas trade by 2040. Increasing concerns about energy security may cause countries to favor domestically-produced energy, even at a 10% premium on cost, leading to a sharp reduction in energy trade, Dale said. Demand for oil is expected to peak in the early 2030s at 108 million barrels per day, while coal production already peaked in 2014.

BP said the focus should be on meeting growing energy demand and the push for lower emissions. By 2050, it will leapfrog the oil industry, and account for more than a third of all energy consumption.

Conseillé:

  • NYPD officer is investigated for shoot on sight comment about 50 Cent

    NYPD officer is investigated for shoot on sight comment about 50 Cent

    He posted a pic of the police officer and wrote alongside it: 'This is Emanuel Gonzalez commanding officer of the 72percinct. Gonzalez has been with the NYPD for a long time - more than three decades - and he's still on duty, at least as of now.
    Catalan crisis forces early polls in Spain, Europe News & Top Stories

    Catalan crisis forces early polls in Spain, Europe News & Top Stories

    Such a union has already been formed in regional parliament of Andalusia, after local elections took place there in December. The elections won't produce a single victor , according to opinion polls, forcing parties to form a Government coalition.
    Former US cardinal defrocked for sex crimes

    Former US cardinal defrocked for sex crimes

    Despite the apparent common knowledge in church circles of his sexual behavior, McCarrick rose to the heights of church power. The ruling makes McCarrick the highest profile Catholic priest to be expelled from the priesthood over abuse allegations.
  • Stan Wawrinka, Daniil Medvedev, Gael Monfils advance Rotterdam Open semifinals

    Stan Wawrinka, Daniil Medvedev, Gael Monfils advance Rotterdam Open semifinals

    The most recent match between these two players was in 2018 at the Cincinnati Masters where Stan Wawrinka won in straight sets. The Swiss wildcard broke for a 5-4 lead in the opening set and sealed the win in a well-mastered tie-break.
    Pulwama attack: Security of 5 separatist leaders withdrawn by J&K administration

    Pulwama attack: Security of 5 separatist leaders withdrawn by J&K administration

    Mirwaiz Molvi Muhamamd Farooq, former chairman of the All Jammu and Kashmir Awami Action Committee, was assassinated in May 1990 . According to the officials:"No security cover will be provided under any pretext to these five leaders and other separatists".
    #MeToo: Ryan Adams dans la tourmente

    #MeToo: Ryan Adams dans la tourmente

    Et visiblement, ces SMS mentionnent la possibilité que la musicienne, qui disait avoir 18 ans durant ces échanges, soit mineure. Elle avait déjà sorti cinq albums et Ryan Adams lui propose alors de collaborer sur le prochain.
  • How to see the biggest, brightest supermoon of 2019

    The third and final supermoon of the year will take place on March 20, 2019 (but, again, it won't be as big as the February one). The colour of the moon will also change depending on the amount of water vapour or smoke particles in the air.
    Tesla Cars Get New Dog And Sentry Modes

    Tesla Cars Get New Dog And Sentry Modes

    Model 3 vehicles, followed by Model S and Model X vehicles that were manufactured after August 2017, the electric carmaker said. It will also set off an alarm, blare the stereo, and alert the owner's cell phone if the situation escalates.
    Windows 10 peut maintenant s'installer sur Raspberry Pi 3 B+ et B

    Windows 10 peut maintenant s'installer sur Raspberry Pi 3 B+ et B

    Pourtant, sa configuration paraît toujours bien faiblarde pour y installer un OS aussi gourmand de Windows 10, le vrai. Vous pouvez retrouver toutes les instructions et les fichiers nécessaires à cette manipulation via ce lien GitHub .
  • Des manifestants brûlent un drapeau américain — Haïti

    Des manifestants brûlent un drapeau américain — Haïti

    Des rencontres avec le secteur privé sont annoncées pour envisager une hausse du salaire minimum. Il a aussi exhorté les Américains à ne pas se rendre dans ce pays.
    Madrid stunned by Girona, sees Barcelona increase its lead

    Madrid stunned by Girona, sees Barcelona increase its lead

    Atletico Madrid moved to second after defeating Rayo Vallecano 1-0 on Saturday to halt a two-game losing streak in the league. We are always in it. "It's a shame that we let these points slip by", Real Madrid coach Santiago Solari said.
    Diet drinks 'increase risk of stroke and heart disease'

    Diet drinks 'increase risk of stroke and heart disease'

    The study found that drinking diet soda daily increased a person's risk of a stroke by 23% and their risk of heart disease by 29%. Researchers tracked 81,714 post-menopausal women (aged 50 to 79 at the start of the study) for an average of 12 years.


Populaire

Daughter Coco falls asleep to Friends — Courteney Cox Instagram
Aniston celebrated her 50th birthday with a party at the Sunset Tower Hotel in West Hollywood last weekend. News can confirm the star's private jet experienced an issue while in the air and had to turn back.

Maurizio Sarri: all over bar the shouting?
He said this was not in discussion and is part of my game, even in the hard moments. "You were asking if he'd keep playing from the back all the time ".

Vince McMahon Indecisive On The Main Event For Elimination Chamber
She also stated that she would be dedicating her title match at The Showcase of the Immortals later this year to The Man. Charlotte is presently scheduled to face Rousey at WrestleMania 35 due to Lynch's on-going suspension and injury.

LeBron says owning National Basketball Association club 'would have to be right fit'
Meanwhile, Lakers president of basketball operations Magic Johnson thinks James would be good for the game. The "mighty", by the way, referred to LeBron, not the Lakers.

Joe Scarborough: Alexandria Ocasio-Cortez shows 'basic ignorance of Economics 101'
Speaker of the House Nancy Pelosi performs a ceremonial swearing-in for US House Representative Alexandria Ocasio-Cortez. As if to highlight the churn within the party, the 2020 class was mixed in their reactions.

12 of the most powerful climate change placards from the schoolchildren's strike
Students were today gathering in Preston as part of a UK-wide protest against climate change. . They then chanted for climate action immediately.

Une enquête a été ouverte — Agression de Finkielkraut
Sur une vidéo tournée par un journaliste freelance, on peut voir les forces de l'ordre s'interposer pour protéger le philosophe. L'ex-premier ministre Manuel Valls a jugé ces insultes " à vomir ".

14e samedi de mobilisation des "Gilets jaunes" dans le calme
Plus d'un millier de personnes ont battu le pavé dans la capitale des Flandres. Vers 16H00, le trafic était interrompu dans le sens nord-sud.

Minister Suggests Brexit Withdrawal Agreement May Not Be Reopened
Britain is set to exit the 28-member bloc on March 29, but May is struggling to persuade parliament to back a divorce deal.

Miley Cyrus dévoile des photos inédites de son mariage
Si vous ne faites pas partie des proches de Miley Cyrus , vous n'avez pas assisté à son mariage. Elle prend la pose au côté de son mari, très chic en costume noir et cravate.