Energy demand at odds with climate change

Rising global demand for energy over the next two decades is at odds with the fight against climate change, the head of BP said on Tuesday, as he outlined the oil giant’s forecasts showing unsustainable increases in carbon emissions.

BP’s annual energy outlook predicted that the world economy would double in size in the next 20 years, resulting in demand for energy rising by almost 40%. The company said two-thirds of this demand would be met from fossil fuels – oil, gas and coal – and that this would lead to a 25% increase in carbon emissions.

BP said slower growth in China and India coupled with greater energy efficiency would mean that demand would rise by 1.5% a year over the next two decades, rather than the 2.5% a year recorded during the past decade.