Energy use grows faster than economic activity

Two odd and apparently inconsistent statistics emerge from BP’s Statistical Review of World Energy. One statistic shows that world demand for energy increased from 2009 to 2010 by 5.6%. That is a large increase in demand. The other statistic is that world economic activity grew by less than energy demand which was 4.9%. The explanation lies in where the growth in energy demand and the growth in economic activity mainly took place. Continue reading