Dwindling oil and coal consumption also will curb the nation’s carbon emissions to a point the U.S. has not seen in three decades, and the use of renewable power sources will triple over that time, BP said Wednesday in its fourth outlook on the world’s energy position beyond 2030.
Natural gas, the British oil giant predicted, would overtake oil as the country’s most used fuel by 2027 and would account for 35 percent of the country’s consumption in 2035.
“Natural gas is the big ticket item,” said Christof Rühl, chief economist for BP Group, said in a teleconference with reporters this week. “We think shale gas will grow up to 21 percent (of global energy production) by 2035.”
Meanwhile, oil is expected to drop from 36 percent to 29 percent of U.S. energy consumption and renewable power sources will grow from 2 percent of energy demand in 2012 to 8 percent in 2035, BP predicted.