• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Energy Stocks Rally Under The Radar

Energy Stocks Rally Under The Radar

Big Oil is trumping the…

Record Surge in Global Coal Capacity Led by China

Record Surge in Global Coal Capacity Led by China

China’s massive annual additions of…

IEA: Post-Pandemic Jump In Energy Demand To Drive Emissions Sharply Higher

A post-pandemic jump in energy demand globally will drive carbon emissions sharply higher this year, the International Energy Agency said in its flagship report Global Energy Review.

Energy demand will rise by 4.6 percent in 2021, the IEA said, as economies recover from the pandemic. This will more than make up for the 4-percent contraction in global energy demand last year, the agency noted.

Most of the energy demand growth—some 70 percent—will come from Asia. The energy demand growth will come with an increase in carbon emissions, driven by the rebound in demand for fossil fuels. Coal demand alone will rise by as much as 60 percent more than demand for all renewables this year, the IEA said, adding that this will contribute to a 5-percent increase in carbon emissions.

According to the authority, oil demand will rise by 6.2 percent from last year. Still, it will remain some 3 percent below levels last seen in 2019. Oil demand for road transportation is set to rebound by the end of the year, but oil demand for air travel will remain 20 percent lower than 2019 levels until the end of the year.

Coal demand is set for a 4.5-percent increase in 2021, with 80 percent of this higher demand concentrated in Asia, and with China accounting for as much as 50 percent of the global 4.5-percent increase in coal demand.

Natural gas demand is also set to rise, although more moderately than coal, at 3.2 percent. Yet demand will still be stronger than it was in 2019, by 1 percent, according to IEA.

Demand for renewables will also rise, however, and it will rise more strongly than all three fossil fuels individually, at 8 percent, after growing by 3 percent last year. As a result, the share of renewables in the world’s energy generation mix is set to reach 30 percent, from less than 27 percent in 2019.

By Charles Kennedy for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News