The World in Review

BP’s annual Statistical Review of World Energy was launched virtually by Chief Economist Spencer Dale on 8 July. The key takeaway from this year’s review of 2020, is that the Covid-19 pandemic had a dramatic impact on energy markets, with both primary energy and carbon emissions falling at their fastest rates since the Second World War. Nevertheless, renewable energy continued to grow. Renewable energy (including biofuels but excluding hydro) rose by 9.7%, albeit slower than the ten-year average (13.4% per year). China was the largest individual contributor to renewable growth, followed by the US. Despite the disruptions, wind and solar capacity increased by 238GW in 2020 – 50% larger tha

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