Energy Outlook

<strong>Center for International Trade and Development (JNU) </strong> departmental seminar Speaker:<strong> Kaushik Deb</strong> Economist, BP Group Title: <strong>Energy Outlook</strong> The Outlook traces the most likely course for the world's energy system and therefore helps to guide the choices we make today. Given that all of us have been focused on what the oil price has been doing recently, this document is a good opportunity to look at longer term trends. One of these trends is a shift in the flow of global energy trading. Historically the big picture has been of oil-producing regions in the east supplying oil-consuming regions in the west. But in the years ahead, oil is likely to increasingly flow from west to east, driven by US tight oil production and growth in energy demand from emerging nations in the east, particularly China and India. A second trend is the growing importance of gas in the energy mix. Gas is likely to be the fastest growing fossil fuel over the next two decades, while oil continues to grow slowly but steadily. In contrast, coal is projected to be the slowest growing of the three fossil fuels. A third big theme is the continuing rise in carbon emissions, set to increase by around 25% by 2035. Date: <strong>Wednesday, 1st April 2015</strong>