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BP Energy Outlook 2017 edition

BP Energy Outlook 2017 edition

Full Title: BP Energy Outlook 2017 edition
Author(s): British Petroleum
Publication Date: January 1, 2017
Full Text: Download Resource
Description (excerpt):

• In the base case, world GDP almost doubles over the Outlook driven by fast-growing emerging economies, as more than 2 billion people are lifted from low incomes.

• This rising prosperity drives an increase in global energy demand, although the extent of this growth is substantially offset by rapid gains in energy efficiency: energy demand increases by only around 30%.

• The fuel mix continues to adjust, although oil and gas, together with coal, remain the dominant sources of energy. Renewables, with nuclear and hydroelectric power, provide half of the additional energy required out to 2035.

• Gas grows more quickly than oil and coal, led by US shale gas; the rapid expansion of LNG is likely to lead to a globally integrated gas market, anchored by US gas prices.

• Oil demand grows throughout the Outlook, but the pace of demand slows with noncombusted use replacing transport as the main source of demand growth.

• The increasing penetration of electric cars and the broader mobility revolution will have an important bearing on future oil demand.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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