The latest from the BP statistical review. Its that time of year when the BP statistical review comes out. There is wealth of useful information in this annual publication. There are three things I’m going to pick out in this post.
The first thing to state is there there is more and more information in each edition. This year information about key materials for the energy transition has been added. I will be blogging on this more in the future when I’ve had more of chance to look at them.
The second thing that I noticed this year (although its been present for some years) was the comparison of gas prices in key countries. I’ve plotted all the data out below. The right hand axis shows consumption in billions of cubic feet per day (global) against the gas prices (left hand axis).
Its surprising how low gas prices are in Canada are, but its a little known fact that its a major natural gas producer. Its also worth bearing out that gas prices in the UK are still low by international comparison. Something that users in the UK don’t recognise. Global gas use is still rising relentlessly and the BP data shows only a tiny increase in proven reserves.
The last thing I’ll pick out is that global total energy consumption is still rising without any sign of a slow down. If anything its accelerating (see graph below). Obviously with many countries still developing this makes sense, but it raises a whole set of moral issues on a finite planet.
In my next blog on the latest from the BP statistical review I will look at some of the data behind this relentless energy consumption, its implications and the conclusions BP draw from it as well as some of the other information they provide.