If nations could agree a carbon tax, it would help create a more efficient, less polluting future
As always, BP’s Energy Outlook provides a glimpse into a possible future. No doubt, its forecasts will be wrong. But it tells us what well-informed people at the heart of the oil and gas industry consider “the likely path of global energy markets to 2035”. It puts forward five important propositions about a plausible energy future.
First, global economic output is forecast to rise by 115 per cent by 2035. Asian emerging economies — principally China and India — are expected to generate more than 60 per cent of that increase.
The primary driver of the rise in global output is expected to be a 75 per cent jump in global average real output per head, as the prosperity of emerging economies catches up with that of high-income countries. Population growth plays a distinctly subsidiary role. It is not the number of people, but rather their prosperity, that drives demand for commercial energy.
Article from Financial Times, read full story