Global energy demand stumbles for third year -BP

Renewables growth by country

Renewables growth by country

In the U.S., President Donald Trump is attempting to revive coal's flagging fortunes.

Worldwide coal consumption fell by 1.7 percent past year while production dropped by 6.2 percent, or 231 million tonnes of oil equivalent (mtoe), according to the 2017 edition of the BP Statistical Review of World Energy. The decline was driven by shrinking coal production in the US, down 19 percent, and China, down 7.9 percent.

And while Trump is proposing to gut clean energy funding by a staggering 70 percent, the world saw the largest jump ever in renewable power production past year. Renewables grew by 12%, becoming the fastest growing of all energy sources, with China contributing over 40% of global growth and surpassing the USA to become the largest producer of renewable power.

"The new normal is that all of this growth is coming from developing economies", particularly China and India, BP Chief Economist Spencer Dale told reporters.

Senate suddenly bars reporters from filming senators in Capitol hallways
And something that would have an immediate - and negative - effect on the way reporters interact with elected officials. He told Politico's Burgess Everett , "of all the problems in America, [reporters] are pretty down the list".

"This shift largely reflects structural factors: the increasing availability and competitiveness of natural gas and renewables, combined with government and societal pressure to shift towards cleaner, lower carbon fuels".

Worldwide, oil consumption grew by 1.5%, driven by stronger-than-usual growth in rich countries, but production growth was weak in the face of low oil prices.

In 2016, global energy demand was weak for the third consecutive year, growing just 1 per cent - around half the average growth rate for the past decade - BP said.

As a result, global carbon emissions flatlined for the third year in a row.

J&K: 9 CRPF personnel injured in grenade attack at Tral camp
If reports are to be believed, there have been five attacks in South Kashmir whereas, one attack was carried out in North Kashmir. While two cops were injured in the attack, the terrorists fled with four SLRs rifles from the possession of the guards on duty.

In the United Kingdom, three major coal power stations were wound up a year ago after a carbon tax was introduced and the last three underground coal mines closed.

The annual report found that renewables were the fastest growing energy source in 2016, accounting for nearly a third of the increase, despite having a share of just 4%.

British coal consumption fell by 52.5% in 2016 and the trend away from the fuel has continued this year, with the first coal-free day since the 19th century. Coal's share of primary energy production was down to its lowest since 2004 due to a fall in consumption by the U.S. and China. BP called the stalled emissions "a very significant break from the past", but acknowledged that they would need to fall if countries are to meet the Paris deal's goal of keeping temperature rises in check.

"Striking in this year's data is the scale of the shift away from coal, especially in China and the United States of America", he said.

The British elections- a setback not a devastating defeat
Pollard accuses May of gambling the country's future on the hopes of strengthening her own position. British voters headed to the polls after May had called for general elections in April.

The world consumed 1.6% more oil in 2016, with India's use rising 7.8%, or 325K bbl/day, and China's use adding 3.3%, according to the report. For 66 years, this annual report has served as an energy industry statistical bible of sorts, painting the broad picture of global energy development. CO2 emissions from energy consumption increased by only 0.1% in 2016.

Latest News