BP data

Its that time of year when the BP data in their statistical energy review comes out.  This blog covers some the main things that stood out for me in the 2016 BP data.

1) oil reserves show a fall, this is almost a first. Its very small at -0.1%.
2) For the third year in a row gas reserves have fallen but previous years that have shown a fall previously have been revised upwards in this data.

Fossilgraphs3) PV and Wind capacity has soared (again).

PVWindGraph4) The BP data reveals total energy use is rising, but over the last few years has been well below the long term trend.

5) CO2 emissions barely grew (I assume these are energy related and do not include agriculture and other sources of natural emissions).

6) Coal use is also falling quite fast and the reserve to production ratio has risen again slightly.coal reserve data

All the above and some other data commented on below indicates things are going in the right direction.  Challenges still lie ahead.   Renewables still only account for 3% of global energy production.  Oil accounts for about a third of of global energy production and gained market share for the first time since 1999.  It also does increasingly look like global oil and gas reserves might have peaked (despite shale).  Emerging economies account for nearly 60% of global energy use but some developed countries also increased their energy use marginally in 2015 reversing a recent trend.

Neil

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