Renewables Growing Fastest But Can't Compete Without Help: BP
Renewable forms of energy are growing far faster than any other form of energy, a BP economist said in Chicago last week, but are unlikely to significantly impact the world’s reliance on fossil fuels without continued government interventions, such as a price on carbon. The world’s oil consumption grew by less than 1 percent in 2011, natural gas by 2 percent, coal by about 5 percent, and nuclear reactors contributed 4 percent less energy in the wake of the Fukushima disaster, according to Mark Finley, BP’s general manager for global energy markets.
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