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Oil and gas to continue to trump renewable energy: BP chief
Tokyo, June 02: Oil and gas will continue to trump renewable energy alternatives as the world`s main source of energy for at least another 20 years, BP chief executive John Browne told the World Gas Conference here today.
Tokyo, June 02: Oil and gas will continue to trump renewable energy alternatives as the world's main source of energy for at least another 20 years, BP chief executive John Browne told the World Gas Conference here today.
"Hydrocarbons will not just remain the most important source of energy - they will actually become more important," he said in a keynote address.
Despite the conference theme, "Catalysing For An Eco-Responsible Future," Browne said energy industry leaders "have to be realistic" in accepting the global reliance on fuels that emit ozone-depleting gases.
"If you add together all the alternative and renewable sources of supply - excluding hydro, which of course is available only in specific locations - all that supply, added up on a global basis over a full year, would barely meet the needs of the city of Tokyo."
By 2020, the world will consume the energy equivalent of 36 million tonnes of crude oil per day, with 65 per cent coming from oil and gas, Browne said.
"The inescapable conclusion is that energy supply will continue to be dominated by hydrocarbons," he said.
The five-day conference, which began yesterday, has attracted 4,859 participants from 72 countries, including top executives from the world's major oil and gas suppliers.
The backer of the meet, the International Gas Union, seeks to promote the use of natural gas as a clean-burning fuel.
Bureau Report
Despite the conference theme, "Catalysing For An Eco-Responsible Future," Browne said energy industry leaders "have to be realistic" in accepting the global reliance on fuels that emit ozone-depleting gases.
"If you add together all the alternative and renewable sources of supply - excluding hydro, which of course is available only in specific locations - all that supply, added up on a global basis over a full year, would barely meet the needs of the city of Tokyo."
By 2020, the world will consume the energy equivalent of 36 million tonnes of crude oil per day, with 65 per cent coming from oil and gas, Browne said.
"The inescapable conclusion is that energy supply will continue to be dominated by hydrocarbons," he said.
The five-day conference, which began yesterday, has attracted 4,859 participants from 72 countries, including top executives from the world's major oil and gas suppliers.
The backer of the meet, the International Gas Union, seeks to promote the use of natural gas as a clean-burning fuel.
Bureau Report