Global energy demand to soar one third by 2040: BP

phys.org | 2/14/2019 | Staff
InLove4567 (Posted by) Level 3
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Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, Britain's BP forecast Thursday.

"The demand for energy is set to increase significantly driven by increases in prosperity in the developing world," BP said in its Energy Outlook 2019 for the industry.

Improvement - Living - Standards - Energy - Demand

"This improvement in living standards causes energy demand to increase by around a third over the outlook."

China and India will together account for more than half of the growth in energy consumption during the forecast period, according to BP.

Demand - Growth - Superpower - Slowdown - India

However, Chinese demand growth will be hit by the superpower's economic slowdown and is expected to be outpaced by India.

"China's transition to a more sustainable pattern of economic growth means that by the mid-2020s India surpasses China as the world's largest growth market, accounting for over a quarter of the growth in global energy demand over the outlook," it said.

China - Market - Energy

"Even so, China remains the largest market for energy: roughly...
(Excerpt) Read more at: phys.org
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