BP PLC’s Energy Outlook 2035, released Jan. 15, forecasts that world energy consumption will increase 41% between 2012 and 2035. Countries outside of the Organization for Economic Cooperation and Development, especially China and India, are believed to contribute to virtually all of this growth. Global energy intensity in 2035 is 36% lower than what it was in 2012, while energy per capita use will increase by 14%. According to the outlook, all fuels experience growth, with the fastest in renewables (+6.4% p.a.). By 2035, 14% of world electricity is from renewable sources, up from just 5% in 2012. Among fossil fuels, natural gas is fastest (+1.9% p.a.), followed by coal (+1.1% p.a.) and oil (+0.8% p.a.). Out to 2035, more than a third of global liquids will be supplied by the US, Russia, and Saudi Arabia. Natural gas supplies will reach nearly 500 bcfd by 2035, of which 20% […]