Sep 16, 2020 - Energy & Environment
BP outlines the path for coal in annual outlook
The biggest takeaway from BP's annual long-term outlook was about peak oil demand, but there are other interesting points in the report as well— including its take on coal's future.
Why it matters: While global consumption is already heading downward, the slope of the decline absent much stronger policies is nowhere near consistent with holding the temperature rise in check.
Here's how BP thinks coal's future could look under two broad scenarios:
- "Business as usual" represents what happens if "government policies, technologies and social preferences continue to evolve in a manner and speed seen over the recent past."
- The other two scenarios represent an energy system consistent with meeting the temperature-limiting goals of the Paris Agreement.