Full Title: BP’s Energy Outlook Forecasts that Fossil Fuels Will Remain Dominant
Author(s): Institute for Energy Research
Publisher(s):
Publication Date: January 1, 2017
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Description (excerpt):
BP’s Energy Outlook provides global energy supply and demand forecasts through 2035. In its 2017 edition, global energy demand is expected to increase by 30 percent to 2035 (an average annual growth rate of 1.3 percent) due to increasing prosperity in developing countries. Like other outlooks, BP projects that oil, natural gas, and coal remain the major sources of energy through 2035, supplying over 75 percent of total energy in that year, but lower than the 86 percent they supplied in 2015. Natural gas is the fastest growing fossil fuel and overtakes coal as the second largest global fuel source before 2035. Non-hydroelectric renewable energy increases and supplies 20 percent of global electricity generation by 2035. Carbon dioxide emissions continue to grow, but at less than a third of the rate in the past 20 years increasing by 13 percent by 2035.