BP: huge rise in energy demand at odds with climate change fight
Sticking with the BP global energy report, it’s interesting to note that The Grauniad takes the carbon emissions angle, jumping on the oil giant’s assertion that global growth, and the inevitable increase in energy demand, is incompatible with reducing carbon emissions.
We think this is unnecessarily gloomy; half of new electricity generation capacity since 2011 has come in renewable form and the share is growing. We’ve never advocated making an investment in solar energy on the carbon argument alone. We think that energy security is a far bigger and more immediate issue for british businesses and if global energy demand increases in the manner suggested by this report, then owning and controlling your own electricity will be a strategic and commercial advantage.