Mark Finley, General Manager, Global Energy Markets, and US Economics, BP, presented the recently released BP Energy Outlook 2035 to a full-house at IEF Headquarters in Riyadh on Sunday 14 February 2016. The BP Energy Outlook provides high-quality, objective and globally consistent data on world energy markets. The Outlook is one of the most widely respected and authoritative publications in the field of energy economics and is used for reference by the media, academia, world governments and energy companies. It identifies long-term energy trends, building on the BP Statistical Review of World Energy, and then develops projections for world energy markets to 2035, taking account of the potential evolution of the world economy, policy, and technology.
The Energy Outlook presented by Mr Finley considers a base case, which considers the “most likely” path for energy demand based on assumptions in regard to potential changes in policy, technological advances and economic development. In the base case, the Outlook foresees a world in which global GDP more than doubles, and the energy required to fuel the increased activity only grows by around a third as a consequence of unprecedented gains in energy efficiency. Fossil fuels are seen as maintaining their dominant role in the energy mix powering the global expansion: providing around 60% of the additional energy and accounting for almost 80% of total energy supplies in 2035. The Outlook shows renewables growing rapidly, almost quadrupling by 2035, and supplying a third of the growth in power generation.
Mr Finley’s presentation is available for download below.