World’s 200-Year Energy Demand Boom Seen Peaking by the 2050s
- Coal demand to peak around 2020; oil in the 2030s: Bernstein
- Energy demand forecast to grow another 30% before peaking
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Global energy demand has been growing at a breakneck pace since the 19th century. That’ll change in about 40 years, according to Sanford C. Bernstein & Co.
Demand will peak in the 2050s and then begin to weaken as energy consumption per unit of gross domestic product declines, Bernstein analysts including Neil Beveridge said in a note Aug. 26. Demand growth is already decreasing as a result of slower population growth and sluggish economic expansion, as well as a shift from industrial-led growth to services-led growth, they said.