Energy consumption in the G20 soared by more than 5 percent in 2010, after the slight decrease of 2009. This strong increase is the result of two converging trends. On the one-hand, industrialized countries, which experienced sharp decreases in energy demand in 2009, recovered firmly in 2010, almost coming back to historical trends. Oil, gas, coal, and electricity markets followed the same trend. On the other hand, China and India, which showed no signs of slowing down in 2009, continued their intense demand for all forms of energy.
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China confirmed its position as the world’s largest energy consumer in 2010 (11 percent above the US), and India as the third largest consumer. These 2 countries, with an increase by more than 6 percent in 2010, now represent more than one third of the total G20 energy demand.
Among fossil fuels, natural gas has experienced the fastest growth in 2010 (above 8 percent), followed by coal (6 percent) and oil (4 percent). The coal market dynamism is directly related to the strong electricity generation growth (close to 7 percent). The growth of oil consumption mostly reflects the fast development of mobility in road and air transport worldwide, in particular in large emerging countries: 12 percent growth in China, 9 percent in Brazil. These trends in transport, if continued, are likely to raise major concerns to the world oil market in the immediate future, as illustrated by recent tensions on crude oil prices.
As a logical consequence of this upturn, CO2 emissions from energy combustion increased sharply in 2010, above 6 percent for the G20 altogether. CO2 emissions have never been as high as in 2010.
Read the full presentation here: World Energy Use In 2010
World energy use in 2010: over 5 percent growth