Articles tagged with "future natural gas supplies"
Posted by Heading Out on January 26, 2011 - 11:25am
Tags: bp, bp energy outlook to 2030, future biofuel supplies, future coal supplies, future natural gas supplies, future oil supply, future renewable energy supplies [list all tags]
There is a significant reliance, among those who write on fossil fuels, on the statistics that BP annually compile on global energy production. For example it provides underlying information for Energy Export Databrowser, as well as many of the posts at The Oil Drum. And so when BP just released their forecast for energy for the next 20 years (Energy Outlook 2030) it is worth having a look at to see what they predict. Bear in mind that this is only one company prediction, yet nevertheless it is an influential one.
The report is very briefly summarized in the introductory speech by Bob Dudley, the Chief Executive, who chose the following highlights:
- Global energy growth will average 1.7%, but will be generated by non-OECD nations, while demand from OECD will remain relatively stable.
- Oil supply will grow at around 1% per year, with major increases in supply coming from OPEC, particularly Saudi Arabia and Iraq.
- Coal use will grow at an average of 1.2% per year, largely through demand for power from non-OECD nations.
- Natural gas will be increasingly used as a power source, with demand growing at 2.1% per year.
- Renewable energy sources will continue to be favored, with growth being at around 8% per year, and with demand for biofuels tripling over the two decades.
- Deepwater production of oil will rise from 7% of the global demand to 9% by 2020.
Those were the initial highlights, and there is slightly more detailed summary at the BP website. Since the booklet that summarizes the data is some 30 pages long, but uses a considerable number of graphics to show the projections, let me borrow some of these to summarize what I see as some of the critical points (and I will add a few editorial comments as I go).