Renewable Energy Is Growing Off the Charts, BP Chief Economist Says

The video discusses the energy transition and its impact on globalization, focusing on how trade disputes affect oil and gas imports in high-demand countries like China and India. It highlights the rapid growth of renewable energy and explores future scenarios where renewables could account for a significant portion of energy supply. Despite this growth, oil and gas will still play a crucial role, requiring substantial investment to meet global energy needs.

What is one potential effect of less globalization on high-demand oil countries?

• Increased oil imports

• Higher global growth

• More trade disputes

• Lower energy demand

In the evolving transition scenario, what is the expected role of renewables in energy supply growth over the next 20 years?

• They will be the slowest growing source

• They will not grow at all

• They will account for around half of the growth

• They will replace all fossil fuels

By 2040, what percentage of the world's energy is expected to be provided by renewables in the evolving transition scenario?

• 50%

• 75%

• 15%

• 5%

In a scenario where renewables provide 30% of energy by 2040, what is the expected role of oil and gas?

• They will be the sole energy source

• They will be completely phased out

• They will provide around half of the world's energy

• They will only be used in transportation

What is necessary to close the gap between natural oil decline and demand in a high renewable growth scenario?

• No investment in oil

• Minimal investment in oil

• Trillions of dollars of investment in oil

• Complete reliance on renewables