Posted on: 18/06/2019
A new report from oil giant BP has warned that global carbon dioxide emissions are still on an “unsustainable path”.
The company’s 68th annual “Statistical Review of World Energy” found global emissions rose by 2% in 2018, their fastest pace since 2011.
Natural gas consumption and production was up by more than 5%, one of the strongest rates of growth for both demand and output for more than 30 years.
Coal consumption and production both increased for the second year in a row, following three years of decline, while the United States recorded the largest-ever annual production increases by any country for both oil and natural gas, with the vast majority of the increases coming from its onshore shale fields.
Mismatch between society’s demands and pace of progress
Bob Dudley, BP’s Chief Executive, warned: “The longer carbon emissions continue to rise, the harder and more costly will be the necessary eventual adjustment to net-zero carbon emissions.”
Spencer Dale, the company’s Chief Economist, added: “There is a growing mismatch between societal demands for action on climate change and the actual pace of progress, with energy demand and carbon emissions growing at their fastest rate for years."
“The world is on an unsustainable path.”