BP Energy Outlook 2017: Fossil Fuels Still Rule, US to Dominate LNG

UK oil and gas giant BP released the 2017 edition of their BP Energy Outlook on Tuesday. BP, being a European company, pays homage to renewables and pledges its undying love for the crappy Paris climate treaty. Whatever. There are a few facts from the Outlook that stand out: (1) By 2035, across the entire world, 78% of all energy will come from fossil fuels. So much for renewables riding in to the save us all “any day now.” (2) In 2015, natgas produced 24% of the world’s energy. BP says in 2035 that number will go up to 25%–just a single percentage point. We think that’s grossly underestimated, but who are we? (3) The U.S. will achieve overall energy self-sufficiency by 2023 (last year they estimated it would happen in 2021). (4) Carbon emissions were flat for a third year in a row, driven by “weak energy demand and a cleaner energy mix,” which includes the use of more natgas. Tell us again why we need the Paris climate treaty, when carbon output is going down without it? (5) The U.S. will be neck-in-neck with Australia, but we will likely be *the* dominate LNG supplier worldwide by 2035. Read the full BP report below…

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