For those who have time for reading, the 2018 BP energy outlook proves for good reading. Whilst there is much richer content direct from BP these are my take outs.
- BP expects peak oil consumption around 2040
- There is a significant increase in energy demand. Largely driven by China, India and Africa (aligned with population / GDP growth)
- Whilst growth in demand for transport increases for oil consuming vehicles, fuel efficiencies offset surges in demand. Strength remains in oil consumption and gas is a growth area. Industry will drive major consumption over transport.
- Renewables and diversifying the source of energy is the core of the presentation. The growth area for the next 20 years for BP.
https://www.bp.com/content/dam/bp/e...ics/energy-outlook/bp-energy-outlook-2018.pdf
A few highlights:
Fuel demand increases, renewables and gas leans in to fill the gaps in growth
Efficiency gains largely offset surges in consumption
Oil demand continues growth into 2040. China and India playing a key role in demand growth.
Over the next ~20 years countries / regions will diversify their source of energy
Overall - I see this as a long term positive for FAR. Producing will have strong market for consumption for the foreseeable future
Ride
2040 Energy Oulook
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