Data: BP Energy Outlook; Chart: Danielle Alberti/Axios

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.

Go deeper

Ben Geman, author of Generate
Sep 16, 2020 - Energy & Environment

BP's renewable energy plans come into focus

Photo: Aleksander Kalka/NurPhoto via Getty Images

BP is providing more info this week about its decades-long plan to diversify away from its dominant fossil fuel business — including expectations for the first few years.

Why it matters: European-based global oil giants are all vowing some kind of decades-long pivot toward more climate-friendly products and deep emissions cuts.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,065,728 — Total deaths: 944,604— Total recoveries: 20,423,802Map
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,674,070 — Total deaths: 197,615 — Total recoveries: 2,540,334 — Total tests: 90,710,730Map
  3. Politics: Former Pence aide says she plans to vote for Joe Biden, accusing Trump of costing lives in his coronavirus response.
  4. Health: Pew: 49% of Americans would not get COVID-19 vaccine if available today Pandemic may cause cancer uptick The risks of moving too fast on a vaccine — COVID-19 racial disparities extend to health coverage losses.
  5. Business: Retail sales return to pre-coronavirus trend.
Ina Fried, author of Login
7 hours ago - Technology

Scoop: How the Oracle-TikTok deal would work

Illustration: Aïda Amer/Axios

An agreement between TikTok's Chinese owner ByteDance and Oracle includes a variety of concessions in an effort to make the deal palatable to the Trump administration and security hawks in Congress, according to a source close to the companies.

Driving the news: The deal, in the form of a 20-page term sheet agreed to in principle by the companies, would give Oracle unprecedented access and control over user data as well as other measures designed to ensure that Americans' data is protected, according to the source.