A few takeaways from BP’s big long-term world energy forecast released Wednesday:
Bloomberg reports that BP's analysis envisions renewable energy growth rates that exceed fossil fuels.
“Global renewables consumption will rise 8.2 percent a year through 2030, outstripping the annual 2.1 percent gain for natural gas, the fastest-growing fossil fuel,” Bloomberg reports.
But the slower growth in fossil-fuels consumption still means a lot more consumption. From Reuters:
World oil demand will rise by 18 percent from 2010 levels to 103 million barrels per day (bpd) by 2030, making it the slowest-growing fuel in the next 20 years, BP Plc said on Wednesday.
Still, Reuters notes that high oil prices have pared back demand forecasts: “As recently as 2007, the International Energy Agency expected the world would need 116.3 million bpd of oil by 2030."
Elsewhere around the Web ...
The New York Times reports that tougher fuel economy rules have broad support among automakers, green groups, regulators and consumer advocates.
Reuters examines a Chinese government report that warns climate change could hinder the country’s march to prosperity.