Each summer BP publishes a ‘Facts and figures’ document covering global trends in energy production, consumption and reserves. It is considered by some in the industry to be the best and most easily accessible overview of the state of our energy resources. Here are some quotes from the ‘BP Statistical Review of World Energy June 2006’:
‘Global oil consumption grew by 1.3% in 2005, below the 10-year average and a marked slowdown from the strong growth (+3.6%) seen in 2004.’
Despite this reduced increase in consumption and an increase in proved reserves as new oil fields came online the ratio of reserves to consumption declined for the second year running, from 40.7 years in 2004, to 40.6 years in 2005. The ratio has been essentially flat over the past 20 years at around the 41 year level.
“World natural gas consumption grew by 2.3% in 2005, more slowly than in 2004 but close to the 10-year average. North America was the only region to see consumption decline’
For natural gas the ratio of reserves to consumption in 2005 was 65.1 years, down from around 70years in 2001.
“Coal was again the world’s fastest-growing fuel, with global consumption rising by 5% or twice the 10-year average’.
Consumption in China, the world’s largest consumer, rose by 11%. China accounted for 80% of global growth. Consumption growth in the USA was also above average, while growth in the rest of the world was close to the 10-year average. The ratio of reserves to consumption in 2005 was 155 years.
‘Nuclear power consumption stagnated in 2005, rising by 0.6%, below the 10-year average of 1.8%. Output remains near capacity and few new plants have come on line. Global hydroelectric generation rose by 4.2%, the second consecutive above-average year. Growth was boosted by new capacity in China, where output rose by 13.7%. Elsewhere, growth in northern Europe, Brazil and Canada offset declines owing to low rainfall across southern Europe and parts of the USA’.
‘World primary energy consumption increased by 2.7% in 2005, below the previous year’s strong growth of 4.4% but still above the 10-yearaverage. Growth slowed from 2004 in every region and for every fuel. The strongest increase was again in the Asia Pacific region, which rose by 5.8%, while North America once more recorded the weakest growth, at 0.3%. US consumption fell slightly, while China accounted for more than half of global energy consumption growth.’
There is an increasing amount of news out there, fed to us 24 hours a day. Unfortunately, less and less is 'investigative' journalism looking into the deeper reasons behind why things are happening. At The Coffee House we pick out some of the more controversial news stories for debate. Politics, economics, development and environment are our main focus. Grab a coffee (or tea!) and join us. Just don't be shy!
Wednesday, August 02, 2006