To Avoid Global War, Ensure US Energy Dominance

The world is using more, not less energy, with the United States leading this surge.  This fact will continue changing the world geopolitically and bring changes to global markets.  BP's seminal Statistical Review of World Energy 2019 was released in early June, and the findings revealed that the U.S. is leading the world in production of fossil fuels.  The report counters prevailing wisdom that peak oil demand is rapidly happening, when the exact opposite is taking place. World oil records were broken in 2018 — according to the Review, "a new oil consumption record of 99.8 million barrels per day (mbpd), which is the ninth straight year global oil demand has increased."  Demand for oil grew 1.5 percent.  This is above the "decades-long average of 1.2 percent." The Review showed that the U.S. is the world's top consumer at 20.5 mbpd in 2018, and China was second at 13.5 mbpd, with India in third...(Read Full Article)
You must be logged in to comment.