“The world consumed more energy in 2010 than ever before.”- BP Statistical Review of World Energy 2011
According to BP’s annual energy report, global energy consumption in 2010 reached a new all time high.
The report’s key findings corroborate our long-standing thesis – population growth, increased industrialization and urbanization combined with dwindling resources is propelling energy demand to unsustainable levels. We are seeing, and will continue to see dramatic changes to the global energy dynamic as the world struggles to meet this new energy demand.
Some key points from the BP report are noted below:
- World primary energy consumption increased 5.6% in 2010 – the largest increase (in percentage terms) since 1973.
- Chinese energy consumption grew by 11.2%. China now accounts for 20.3% – over one-fifth – of the world’s energy consumption.
- As of 2010, China has surpassed the United States as the world’s largest consumer of energy.
- Oil is still the world’s leading source of fuel, and supplies 33.6% of all energy consumption. However, oil has been losing market share year over year for the past 11 years.
To read the full report, please click here