BP just released its Annual Energy Outlook 2030 which contains its projects for future energy trends. BP sees overall energy demand growing about 40% over the next 20 years. Not surprisingly, virtually all growth will be coming from developing countries with China and India alone responsible for more than half of the growth. Here’s how BP anticipates energy use for 2030:
Energy Breakdown in 2030: BP
While oil will be losing its overall weighting in terms of percentage relative to the whole, demand is expected to rise on average 1% per year which translates into 16Mb/d pushing daily production upwards of 103 Mb/d by 2030. China, India and the Middle East will account for nearly ALL of the net global increase!
It looks like I can still enjoy my playground for 2 more decades….
News Roundup:
Clark Stakes B.C.’s energy future on liquefied natural gas
Iran threatens retaliation over oil embargo
Food Production Must Double in 30 Years
The No. 1 Reason Natural Gas Prices Can’t Rise: Exxon Mobil
Private Equity Eyes Oilpatch for Bargains
Blog Roundup:
A look at the Oil and Gas sector ETFs in How to Invest in Oil (Oil and Gas ETFs)
Is Canada Immune to a Financial Blowup? (Financialgod)
What Are You Doing to Turn Your Discomfort into Action? (Invest it Wisely)
Get your financial house in order or keep dreaming? (My Own Advisor)
Toothpaste Engineering and a Career Tip from a Former Boss (101 Centavos)
Carnival Roundup:
Yakezie Carnival at The Amateur Financier
Carnival of Financial Camaraderie at My University Money
Canadian Finance Carnival at Canadian Finance Blog
Carnival of Wealth at Control Your Cash
Carnival of Financial Planning at The Amateur Finacier
Carnival of Retirement at Retire by 40
Have a great weekend!
