Weekend Edition: World Energy Consumption Registers Sold Growth in 2010

According to BP’s annual??Statistical Review of World Energy, published on June 8th, 2010’s energy consumption was up by 5.6% from 2009. Oil consumption which accounts for 34% of the world’s primary energy by BP’s calculations rose by 3.1%. Coal, at 30% the number two fuel, was up by 7.6%, growing faster than at any time since 2003. Natural gas consumption, which contributes 24%, was up by 7.4%, the biggest annual growth since 1984.

It’s interesting to note that China’s total energy consumption rose from 11% in 2000 to 20% of the world energy consumption surpassing the US to become the largest energy consumer!

Where did all of China’s growth in demand come from? Surprisingly, it wasn’t from oil, it was from coal which made up more than 48% of world coal use up from a significant 30% in the year 2000.

The good news with the growth in usage is that it reflects a rebounding global economy while the bad news is the obvious increase in carbon emissions. Whether we end up double dipping or not in the short term, there is a strong case for investing in oil and gas for the long term as sooner or later the stock price of these producers will have to reflect the growing global energy consumption.

Economic roundup:

U.S. Is Nearing Even Worse Financial Crisis: Jim Rogers

Fed Became Second-Largest Treasury Investor in Q1

High U.S. Unemployment Forecast to Persist for Years

Treasuries Rise on Speculation of Maintained Stimulus

It’s Bubble Time as Asia Braces for Fed’s QE3

Weekly blog roundup:

Three Reasons Why I Squirrel Away My Money @Invest It Wisely

Dividend Yield or Growth or both? @ The Passive Income Earner.

Playing With Ex-Dividend Date @The Dividend Guy Blog

youngandthrifty June 2011 Net Worth Update @Young &Thrifty

401k Fees @DIY Investor

The Safety of Short Term Bonds@Dividend Ninja

Coca Cola (KO) Dividend Stock Analysis @Dividend Monk

How To Build Your Fortune While Others Are Fearful @Buy Life Buffet

Have a Great Weekend!