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BP Energy Outlook 2035: World Energy Demand To Rise By Almost 40%

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Larry Elliott, The Guardian

BP’s annual energy outlook predicted a doubling of the size of the world economy in the next 20 years, resulting in demand for energy rising by almost 40%.

Rising global demand for energy over the next two decades is at odds with the fight against climate change, the head of BP said as he outlined the oil giant’s forecasts showing unsustainable increases in carbon emissions. 

BP’s annual energy outlook predicted a doubling of the size of the world economy in the next 20 years, resulting in demand for energy rising by almost 40%.

The company said two-thirds of this demand would be met from fossil fuels – oil, gas and coal – and that this would lead to a 25% increase in carbon emissions.

BP said slower growth in China and India coupled with greater energy efficiency would mean that demand would rise by 1.5% a year over the next two decades, rather than the 2.5% a year recorded during the past decade.

Even so, the company said carbon emissions would be growing by 1% a year – “well above” the path recommended by scientists to keep emissions below the ceiling of 450 parts per million that would provide a 50% chance of stabilising global temperatures at 2% above pre-industrial levels.

He added that the environmental risks put pressure on politicians to come up with a deal at this year’s climate conference in Paris.

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