BP Energy Review 2016
By Paul Homewood
A first look at the newly published BP Energy Review of World Energy 2016, which looks at data for 2015.
- The real highlight is the sluggish growth in energy consumption, which has only increased by 0.9% year on year. This is not surprising given the slowdown in the Chinese economy.
- Primary energy consumption has risen by 127 Mtoe, of which fossil fuels and renewables (excl hydro) have contributed 61 and 48 Mtoe respectively.
- Coal consumption has fallen slightly by 72 Mtoe (2%), offset by increases of 80 (2%) and 54 Mtoe (2%) for oil and gas respectively.
- The share of renewables (excl hydro) in the total energy mix has increased barely increased, from 2.4% to 2.8%.
- As a result of this and the slight fall in the share of coal, emissions of CO2 have risen by only 0.1%, slightly less than the rate of energy consumption.
Fossil fuels still account for the vast majority of the energy mix. Despite all the hype, renewables (excl hydro) still barely contribute at all.
In geographical terms, China account for 23%, unchanged from last year. The biggest change is India, where energy consumption has risen by 5%. Fossil fuels, mainly oil and gas, account for 97% of this increase.
Emissions of CO2 follow a similar pattern.
In addition to the US, other countries that have made significant reductions include Russia, where economic sanctions have badly hit the economy, and Brazil, whose economy has suffered from the collapse in oil prices.
In contrast, there have been been sizeable increases in India, Indonesia, Vietnam, and across the Middle East.
Unsurprisingly, the EU lead the way in the deployment of renewable energy.
Finally, we can take a look at how energy trends have developed over the last decade.
While fossil fuels have consistently met the world’s demand for ever greater supplies of energy, other sources have failed to make any appreciable difference.
It is worth noting that since 2005, hydro has added more than wind and solar put together, 232 Mtoe compared to 223 Mtoe.
The full BP Energy Review is here.
More analysis later.