Every year, BP
Two points worth highlighting: BP expects energy demand to be up 40% by 2030, with China and India responsible for roughly 50% of that growth; and BP expects oil use in both countries to nearly double:
| Oil Consumption in 2010 | Expected Oil Consumption in 2030 |
---|---|---|
India | 2.9 MMbbl/d | 6 MMbbl/d |
China | 8.2 MMbbl/d | 15 MMbbl/d |
Source: CIA World Factbook, BP Energy Outlook. MMbbl/d = million barrels per day.
This trend of expanding demand will put wind in the sails of Dow Jones Industrial Average
One other point worth highlighting: BP believes a growing supply of biofuels and unconventional oil and gas (shale) will turn North America's energy deficit into a small surplus. Cheniere Energy
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