Energy Observations

Oil and gas is here to stay. As you can see below, fossil fuels will continue to
drive our energy demand

Breitling Oil and Gas energy observations:

• World primary energy use is projected to grow an average of 1.7%, or

about 40% over the next 20 years.

• 93% of the global growth will be made by non-OECD economies; their

share of energy consumption will reach two-thirds by 2030. (Today their
share is roughly half.)

• Fossil fuels will still make up approximately two-thirds of global energy

demand.

• China is the largest source of oil consumption growth — and is forecast to

grow by 8 million barrels per day to a total of 17.5 million barrels per day
by 2030, overtaking the U.S. to become the world's largest oil consumer.
• Rail, electric vehicles and plug-in hybrids, and the use of compressed
natural gas in transport is likely to grow, but without making a material
contribution to total transport before 2030.