From Robert Rapier's R-Squared Energy blog, July 27:
Earlier this month the BP Statistical Review of World Energy 2o21 was released, covering energy data through 2020. The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. It is a primary data source for numerous companies, government agencies and non-government organizations.
Since its release, I have been busy analyzing the data and creating graphics. I strive to uncover nuggets of information and analyze the data in unique ways. In upcoming articles I will delve deeper into the various energy categories, but today I want to simply provide a high level overview of this year’s Review.
I will add a caveat regarding this year’s review. Typically, the Review gives us a comprehensive summary of energy trends. However, the Covid-19 pandemic really upended the energy markets in 2020, and we shouldn’t extrapolate some of these trends.
For example, as I will detail below, oil demand fell dramatically last year, but we already know that it has largely recovered in 2021. So it would be a serious mistake to think that last year’s plunge marks the beginning of long-term trends.
Energy OverviewPrimary global energy consumption fell by 4.5% last year, which was the largest annual decline since 1945. About three-fourths of the decline came from oil, as the pandemic dramatically impacted the world’s transportation systems. Small declines were also reported in coal, natural gas, and nuclear consumption, while renewables and hydropower recorded gains.
However, despite the sharp decline in oil consumption, oil remained on top with a 31.2% share of all energy consumption. The remainder of global energy consumption came from coal (27.2%), natural gas (24.7%), hydropower (6.9%), renewables (5.7%), and nuclear power (4.3%).
Cumulatively, fossil fuels — shown below in shades of gray — still accounted for 83.1% of the world’s primary energy consumption in 2020.
The decline in energy consumption was prevalent throughout the entire world. Over 95% of the countries tracked by the review experienced a decline in energy consumption. By country, the U.S., India, and Russia contributed the largest annual declines in energy consumption....
....MUCH MORE
Mr. Rapier is one of the long-lived commenters on things energy/environment, Here's a link from 2011: "How Much Are You Willing to Pay to be Nuke-Free?" and another from 2009: "Conoco Chief Says Replacing Oil May Take a Century. And: Oil Prices Ahead of Fundamentals (COP)" and yet a third where he questioned high-profile analyst, author, investment banker Matt Simmons on the cost of the Deepwater Horizon disaster in the Gulf of Mexico. Mr. Rapier was right, Mr. Simmons was wrong in his trillion dollar estimate.
And us? Among other things we were linking to stuff like: "'More BP Gulf Oil Spill Conspiracies Flourish -- From Algae Farms to Armed Dolphins' (APC; BP; HAL; RIG)"
Which reminds me, I should probably follow up on the Chinese Security Law posts which for some reason included this tidbit:
Personally I think laser-enhanced sharks would be kind of cool, it's the
required handing over of data should the Chinese government request it
that gives one pause.
