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Global Energy Consumption

All articles tagged with #global energy consumption

Rising Population and Energy Demand: A Global Outlook

Originally Published 2 years ago — by EIA

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Source: EIA

The International Energy Agency (IEA) projects that global energy consumption will surpass gains in energy efficiency in most cases, leading to an increase in energy-related CO2 emissions by 2050. Factors such as population growth, higher living standards, and increased regional manufacturing contribute to the higher energy consumption. While non-fossil fuel-based resources like nuclear and renewables will produce more energy, their growth is not sufficient to reduce global CO2 emissions under current laws and regulations. The shift to renewables for electricity generation is driven by regional resources, technology costs, and policy, while energy security concerns drive a transition away from fossil fuels in some countries but increased consumption in others.

OPEC Forecasts Surging Oil Demand and Urgent Investment Needs

Originally Published 2 years ago — by OilPrice.com

Featured image for OPEC Forecasts Surging Oil Demand and Urgent Investment Needs
Source: OilPrice.com

OPEC has increased its long-term oil demand forecast to 116 million barrels per day (bpd) in 2045, a 6 million bpd increase from last year. The organization expects global oil demand to rise by 16 million bpd between 2022 and 2045. This contrasts with the International Energy Agency's prediction that demand will peak in the coming decade. OPEC attributes the higher forecast to the continued growth of global energy consumption and the need for all forms of energy. India is expected to be the main driver of growth, adding 6.6 million bpd to oil demand by 2045.