Sunday 10 February 2013

ENERGY IN CHINA AND INDIA

The Hindu

AN ENERGETIC FUTURE

By 2030, the maximum growth in energy demand will be from emerging economies, says a recent survey

Sujay Mehdudia

The Hindu, February 10, 2013

With continuing steep economic growth, major emerging economies such as China and India are likely to become increasingly reliant on energy imports. Such shifts will have a major impact on trade balances, says the latest Energy Outlook Survey 2030 released by BP.

The Outlook’s overall expectation for growth in global energy demand by 2030 is little changed from last year, with demand expected to be 36 per cent higher in 2030 than 2011 and almost all the growth coming from emerging economies.

However, expectations of the pattern of supply of this growth are shifting strongly, with unconventional sources — shale gas and tight oil together with heavy oil and bio-fuels — playing an increasingly important role. Growing production from unconventional sources is expected to provide all of the net growth in global oil supply till 2020, and over 70 per cent of growth by 2030.

BP Group Chief Executive Bob Dudley said fears over oil running out – to which BP has never subscribed – appear increasingly groundless. “The US will not be increasingly dependent on energy imports, with energy set to reinvigorate its economy. And China and India are expected to need a lot more imports to keep growing,’’ he added.

(...) [article here]

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