Energy world in 2030January 28, 2013
BP has issued its latest “Energy Outlook 2030” analysis. BP has been publishing an annual statistical review for years, but that review is a summary of current behavior. The Energy Outlook reports have only been published since 2011, and are an attempt to examine what the energy world might look like two decades from now. The primary conclusion of the analysis is that there will be little change in net energy supply. If this is indeed the case, then the odds of the world shaking off its current economic doldrums are not good. The economy needs energy to grow – and the cheaper and higher quality the energy, the more likely it is to fire economic growth. Energy innovation will be the key to better living standards for not only developed nations but also the growing billions in the currently less developed world. The United States is already leading the way in energy innovation through the development of unconventional oil and gas, but BP’s analytics indicate that this will only help the world to tread water. The true game changers will come from developing kerogen or transitioning to a methanol economy.