Oil giant BP forecasts world demand for energy will grow by 41 per cent by 2035, driven by growing consumption in the booming economies of China and India.
That represents a drop from 55 per cent growth in the previous period, and BP says the growing use of renewable energy will help energy suppliers meet the world’s needs.
BP Chief Executive Bob Dudley says competition is “unlocking technology and innovation to meet the world’s energy needs”.
Dudley says “trends in global investment and policy leave us confident that production will be able to keep pace”.
BP says rising energy use will boost global carbon dioxide emissions by 29 per cent in the period, even as emissions decline in Europe and the US.