March 2015

Trends and Resources

HP Industry Perspectives: Notables from BP's Energy Outlook 2035

In mid-February, BP released its outlook for the next 20 years. As reminded by BP’s new chief economist, Spencer Dale, the outlook is a projection of what is most likely to occur based on the inf..

In mid-February, BP released its outlook for the next 20 years. As reminded by BP’s new chief economist, Spencer Dale, the outlook is a projection of what is most likely to occur based on the influences of technology, global and regional economics, and political policy. So, what can the energy industry expect over the next 20 years? The global GDP will double by 2035, largely driven by growing populations and increased productivity in developing nations. GDP growth will be supported by a 37% increase in energy consumption. After 2015, there will be a clustering of hydrocarbon energy resources. Crude oil, coal and natural gas will make up similar percentages (26% to 28%) of the e

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