BP Statistical Review of World Energy

Some sobering truths about the trends in energy demand and carbon emissions growth were revealed by the statistics unveiled at the presentation of BP’s Statistical Review of World Energy for 2018 by Spencer Dale, Group Chief Economist and Bob Dudley, CEO.

2018 saw the biggest global energy demand growth for a decade at 2.9% and it was coupled with the carbon emissions growing at their fastest rate for a decade.

Electrification continued but although Renewables grew at 14% and increased their share of the generation mix coal also increased for the 2 nd year after 3 years of decline, as it was used as a ‘stopgap’ alongside natural gas which saw an increase of 5%.

So the stark, top line message from the presentation was that the world is not on a sustainable path and we are moving further away from it not closer. On our efforts to combat emissions and climate change, there is a ‘growing mismatch between hopes and reality’.

A full copy of the presentation and other supporting collateral can be downloaded here https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html