BP Energy Outlook -Watch Out for Asia Pacific Oil!

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wind china Energy production by renewable sources will roughly quadruple by 2030, but the use of such energy will still only account for fraction of energy consumption, according to a report by BP.

BP Energy Outlook 2030 provides BP's take on the likely scenarios for energy in 2030.

 Global energy production from renewable sources will rise to the equivalent of 860.2 million metric tons of oil, up from the equivalent of 264.1 million metric tons of oil in 2015, they predict. This means that energy production from renewable sources will go up about 4 fold by 2030.

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One of the interesting statistics is that by 2030 the Asia Pacific region will be producing the equivalent of 338.9 million metric tons of oil, more than any other region. Was it a surprise then to see the US recently shift its focus from the Middle East and make a clear statement about its future lying in Asia, as it stationed troops strategically in Australia?

 

 

North America will be producing 191.3 equivalent tons and Europe and Eurasia 252.4, the report says.

petrobras

The sad part of the report is the prediction of how much of the world's energy will be made up from renewables- a meagre 5 per cent of global energy.

 Total global energy production will be the equivalent of 16.6 billion metric tons of oil by 2030, up from 13.5 billion in 2015.

Coal and oil will still be the largest sources of energy produced, with each accounting for over 4.5 billion metric tons of oil or oil equivalent by 2030, the report says.

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