World primary-energy demand

Global consumption of primary energy has grown by 30% over the past decade. But almost all of that growth has come outside the rich world. In four of the past five years energy demand has fallen in the OECD, despite GDP growth in three of those years. Last year was no exception, according to BP’s 2013

Global consumption of primary energy has grown by 30% over the past decade. But almost all of that growth has come outside the rich world. In four of the past five years energy demand has fallen in the OECD, despite GDP growth in three of those years.

Last year was no exception, according to BP’s 2013 “Statistical Review”: energy consumption fell by 1.2% even as OECD economies expanded by 1.4%. In the developing world the link between economic growth and energy demand endures. But oil consumption peaked in the OECD in 2005. Demography and vehicle efficiency mean it is now in structural decline. It is possible—though BP reckons it is too early to tell—that rich-world energy demand has peaked too.

 

The Economist 

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