The 2020 edition of the bp Energy Outlook explores possible paths for the global energy transition, how global energy markets may evolve over the next thirty years and the key uncertainties that may shape them. Looking out to 2050 – a decade further than in previous editions – the Outlook is focused around three main scenarios. In the main scenarios it considers, global energy demand continues to grow for at least part of the period to 2050. However, over this time, the structure of energy demand fundamentally shifts, with a declining role for fossil fuels offset by an increasing share for renewable energy and a growing role for electricity.
bp’s chief economist, Spencer Dale, recently presented the Energy Outlook 2020. Check out his presentation to know how has Covid-19 affected the outlook, how might oil demand be affected by the mobility revolution, what role could natural gas play in the energy transition, just how quickly will renewables grow over time, what role for hydrogen and bioenergy, and what are the dangers of delaying the energy transition.