July 4, 2007—For the second year in a row, 2006 was a year of slowing growth in world energy use, according to the newly released BP Statistical Review of World Energy 2007. World energy use grew by 2.4%, down from 3.2% in 2005, but still above the 10-year average, according to the report.
Some of the key findings are:
- Petroleum consumption actually fell among developed countries, due in part to prices peaking at $78 per barrel in August, while the global demand for oil grew only 0.7%.
- Gas consumption, strongly fuelled by demand growth in Russia and China, rose about 2.5 per cent in 2006, close to the average of the past decade.
- Dominated by China, coal was once again the world’s fastest-growing hydrocarbon.
- Use of wind and solar continue to grow rapidly but from a low base. Installed wind power capacity was up about 25 per cent in 2006 but still accounts for less than 1 per cent of worldwide electricity production.
As has been the trend in recent years, slow increases in energy demand in developed countries were offset by rapid growth in the Asia Pacific region, particularly in China, says the report. China ‘s energy consumption rose by more than 8%, and as a result, China now reportedly consumes 15% of the world’s energy.
For more detailed findings, see BP’s Statistical Review of World Energy 2007.
