BP: Global Energy Demand and Carbon Emissions Grew Rapidly in 2021

June 29, 2022--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--As much of the world emerged from the COVID-19 pandemic in 2021, economies rapidly expanded and global energy demand shot up, which led to sharply higher energy prices and big gains in carbon dioxide emissions, BP plc (NYSE:BP) (NYSE:BP) (London, England) said in its Statistical Review of World Energy, released June 28. As it has warned for several years, the path is unsustainable, BP said. In his introduction to the report, BP Chief Economist Spencer Dale wrote, "The pronounced dip in carbon emissions in 2020 was only temporary." Despite a growing number of countries pledging to achieve net-zero carbon emissions by a future date, Dale commented, "those growing ambitions have yet to translate into tangible progress on the ground: Carbon emissions have risen in every year since the Paris goals were agreed (other than in 2020 at the height of the COVID-19 pandemic). The world remains on an unsustainable path."