Friday 10 June 2011

World energy consumption up 5.6% in 2010, biggest rise since 1973: BP

This article states that world energy consumption has increased in 2010: with oil production having peaked in 2006 and depletion rates 0f 5-8 per cent, what does that tell us?

Total global energy consumption growth was 5.6% in 2010, the highest rate since 1973, BP said Wednesday in its annual statistical review of world energy, adding that total consumption of energy last year "easily" surpassed the pre-recession peak reached in 2008.

"World primary energy consumption grew by 5.6% in 2010, the largest increase in percentage terms since 1973," BP said.

It said consumption in OECD countries grew by 3.5%, the strongest growth rate since 1984, though the level of OECD consumption remains roughly in line with that seen 10 years ago, it said.

Non-OECD consumption grew by 7.5% and was 63% above the 2000 level, demonstrating the rapid demand increase in emerging economies. 

"Consumption growth accelerated in 2010 for all regions, and growth was above average in all regions," BP said.

Chinese energy consumption grew by 11.2%, and China surpassed the US as the world's largest energy consumer, it said.

BP said oil remained the world's leading fuel, at 33.6% of global energy consumption, although it continued to lose market share for the 11th consecutive year.

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