This article discusses how BP’s outlook for fossil fuels could be undermined by slowing energy demand. Global energy demand will continue to increase as a result of human development in the world’s poorest countries, says oil and gas major BP in its latest outlook to 2040.
BP says in its energy outlook 2019 that this increase in demand is a necessity for rising prosperity, but an impediment to the Paris climate goals. This is because even rapid uptake of renewable and other low-carbon sources is insufficient to cover rising energy demand.