Already Past Peak Oil? BP Says 2020 Will Mark The End Of Growth In Petroleum Demand [Forbes]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Forbes
End of watch. In Teeside, England this summer, the decommissioned Brent Alpha oil platform was towed... [+]back to port after nearly 40 years in the North Sea. (Photo by Ian Forsyth/Getty Images)COVID-19 has dried up growth in worldwide oil demand. And perhaps could reverse it. A new report from BP surmises that we may already have passed the point of Peak Oil demand.Only a year ago, BP was assuming that oil demand would grow at least until the 2030’s. Now, withBP’s 2020 OutlookThe report focused on a selection of scenarios: Rapid, Net Zero, and as Usual, to describe what might happen in the global energy markets over the next three decades. They suggest that the era of oil demand growth is over. At its most enthusiastic, the Outlook sees little growth in demand and other scenarios suggest a fall in demand by 50-80 per cent by 2050. It predicts that energy consumption will shift away from fossil fuels, and renewables grow rapidly as the ?world continues to electrify. ?BP is not alon
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BP
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BP
Sec Filings
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- 4/18/24 - Form 6-K
- 4/9/24 - Form 6-K
- BP's page on the SEC website