The 2019 edition of BP’s Energy Outlook, published today, explores the key uncertainties that could impact the shape of global energy markets out to 2040. The greatest uncertainties over this period involve the need for more energy to support continued global economic growth and rising prosperity, together with the need for a more rapid transition to a lower-carbon future. These scenarios highlight the dual challenge that the world is facing. The Outlook also considers a number of other issues including the possible impact of an escalation in trade disputes and the implications of a significant tightening in the regulation of plastics.
Much of the narrative in the Outlook is based on its evolving transition scenario. This scenario and the others considered in the Outlook are not predictions of what is likely to happen; instead, they explore the possible implications of different judgements and assumptions.