BP Review of World Energy Trends – Highlights Video

The Eagle Ford Supported The Largest Increase In US Oil Production In History

BP has published its annual statistical review of world energy trends for over 60 years. This year’s report is as interesting as ever. A short video presentation and our takeaways are included below.

  • Global energy consumption growth slowed to just 1.8% in 2012
  • Energy efficiency improved at rates not seen in 30 years
  • Energy consumption in developed countries has fallen for 5 straight years
  • Saudi Arabia, UAE, and Qatar produced record levels of oil in 2012
  • US saw the largest increase in oil production in the country’s history
  • China consumed the majority of the world’s coal for the first time
  • Nuclear power declined by more than 6% in 2012 (largest drop ever)
  • China increased hydroelectric power generation by more than 22%
  • Biofuels output declined globally
  • Solar output grew by more than 50%, but renewables only county for 2% of energy

P.S. The Eagle Ford played a big part in helping grow U.S. oil production. Oil production reported to the Texas Railroad Commission has increased from ~200,000 b/d at the beginning of 2012 to estimates of almost 600,000 b/d in June of 2013.

If you are a stats junky, you might enjoy the “in depth” interview. It is a little longer – 9 minutes.

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R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

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