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British Petroleum Expects Lower Global Energy Demand

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Global demand for energy will grow at a slower pace over the next two decades, a report from the oil giant BP predicts.

BP’s Energy Outlook says energy demand will rise by 41% between now and 2035 – less than the 55% growth seen over the past 23 years.

It said increased fuel efficiency in developed economies was behind the predicted slowdown.

But demand from emerging economies is expected to continue to rise strongly.

Some 95% of the growth in global demand will come from developing countries, BP predicts, with China and India alone accounting for half the increase.

In contrast, energy demand in advanced economies in North America and Europe is expected to see only slow growth.

The firm’s chief economist, Christof Ruhl, said the overall slowdown was a result of increased energy efficiency.

“Put simply, people are finding ways to use energy more efficiently because it saves them money,” he said.

“This is also good for the environment – the less energy we use the less carbon we emit.”

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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