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The two global energy development scenarios that BP researchers take into consideration are the one that follows current trends and the one that assumes zero CO2 emissions by 2050 (Net Zero).
If the present patterns in the global energy sector continue, the demand for primary energy sources will rise until the middle of the 2030s, at which point it will mostly level out. Therefore, a decline in demand in industrialized nations and China will balance the rise in energy consumption in emerging economies, with the exception of China. In this scenario, the demand for energy would increase from 2022 to 2050 by 5%.
According to the Net Zero scenario, energy demand will begin to decline at the end of this decade and finally reach 25% less than that of 2022 by the year 2050.
Under any scenario, oil consumption will drop after 2025, BP experts believe. The rate at which demand is declining is the only distinction. The market's current inputs will therefore cause the demand for oil to decline to 75 million barrels per day by 2050.
source: theguardian.com
If the present patterns in the global energy sector continue, the demand for primary energy sources will rise until the middle of the 2030s, at which point it will mostly level out. Therefore, a decline in demand in industrialized nations and China will balance the rise in energy consumption in emerging economies, with the exception of China. In this scenario, the demand for energy would increase from 2022 to 2050 by 5%.
According to the Net Zero scenario, energy demand will begin to decline at the end of this decade and finally reach 25% less than that of 2022 by the year 2050.
Under any scenario, oil consumption will drop after 2025, BP experts believe. The rate at which demand is declining is the only distinction. The market's current inputs will therefore cause the demand for oil to decline to 75 million barrels per day by 2050.
source: theguardian.com
