Wednesday, June 8, 2011

An Eye-Opening World Energy Snapshot

Today BP released it's "Statistical Review of World Energy Data", which is impressively comprehensive and the best report I've seen recently in painting the picture of our global energy supply and demand.

I have pulled out a couple stats / graphs that jumped out at me:
  • Energy demand growth is at it's highest in 30 years - outpacing economic growth (not unexpected as developing countries have become more energy hungry). This trend should become more dramatic as China and India GDP/capita explodes.
World Energy Consumption
  • We really are a coal planet. Coal accounts for largest share of energy use (30%) - and is the largest energy source in Asia where demand growth is highest (China represents almost 50% of coal consumption). This is unsustainable in terms of air quality and CO2 emissions, and I view it as a positive indicator for the need for renewables.
Reserves / Production (years) by Source and Region

  • Our reserves to production ratios for fossil fuels are actually increasing - this is counter to the "peak oil" theory of fossil fuels. In essence, we are getting better at finding and tapping difficult to get to resources - however, the incremental resources are at higher costs.
Reserves / Production (years) of Oil

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