5 Energy Sector Outlook Reports Including BP Energy Outlook 2035
Electrical cars. Hybrid vehicles. Solar panels. Windmills.
Today’s market hosts a plethora of efficient energy source alternatives to fossil fuels. Innovations in conservation technology pave the way for a sharper focus on renewable energy in the future. As the increased availability of energy-efficient solutions continues to grow, the cost and efficiency of these sources improves and everyday consumers have access to alternative energy.
Analysis of the recent trends in power generation PPT and leading industry outlook reports revealed the following highlights and predictions for energy use and demand in the future.
1. BP Energy Outlook 2017
On February 20, 2018, official
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Key takeaways from the report include:
Energy demand growth was weakest in the transport sector, which is exptected to continue on a decline. Transport sector is showing a shift away from oil with gas comprising 16% of transport energy demand grow, 13% attributed to biofuels, and 2% from electricity.
The largest producer of energy for that geographic location, the Asia Pacific region shows rapid growth of energy use (2.2% p.a.) - which is attributed to the large operations for coal production - which accounts for 48% of the energy production growth worldwide.
The Asia Pacific region, the largest regional energy producer, shows the most rapid growth rate (2.2% p.a.), due to large indigenous coal production, and accounts for 48% of global energy production growth. Following the Asia Pacific region is the Middle East and North America are responsible for the next largest increases in supply growth. In terms of global energy production, North America is second largest energy producer.
3. BP Energy Outlook
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What changes that are made to the fuel mix depend on resource endowments, technology, and tradability in respect to the current economic status.
Worldwide, a higher premium is placed on cleaner and convenient fuels, as incomes rise. In fact, relative prices are responsible for the actual substitution of fuels.
Coal compromised nearly the entire fuel mix industry in its infancy. The introduction of the internal combustion engine combined with the cheap cost of oil led to the replacement of coal as the dominant fuel to oil.
Over time, the energy mix became more varied and complex with a variety focused on specific applications, i.e. oil for transport and coal for power.
Cost of fuel and the availability determines what fuel mixes are used.
Countries that have the ability to afford convenient and cleaner fuels are typically those with lower energy intensity.
Carbon intensity has gradually reduced as a result of the historical pattern of fuel diversification. However, this trend was mostly an accidental outcome from the various fuels used and their availability.
4. EIA Long-Term Energy