1/19/2012

Global demand growth for renewable energy will outpace demand growth for oil through 2030, according to a new report by BP. Consumption of renewable energy worldwide will grow annually by 8.2% from 2010 to 2030, while oil use will increase by just 0.7% annually during the same period, BP said. Despite the projected uptick in demand for renewable energy, it will account for just 6% of total energy use by 2030, while fossil fuels will account for 80%, said BP CEO Bob Dudley.

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