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.
