Energy | Nov.21 12 The Economist

字體 -


World in figures: Industries

Energy Nov 21st 2012 |From The World In 2013 print edition


Global energy consumption will grow by around 3% in 2013, little changed from the previous year. The underlying mix, however, will reflect the growth of natural gas. Buoyed by production from North American shale deposits, the glut of gas will keep prices low by historical standards, although a shift by producers to more lucrative oil exploration will reduce gas surpluses and provide some support to prices. Global gas consumption will rise by around 4%, three times faster than for oil.


Related topics

Oil stocks will grow as supply outpaces demand, pushing prices down. Brent crude will average $103 a barrel in 2013, down from $109 the year before. Huge new oil fields in Saudi Arabia and Kazakhstan will come on stream in 2013, and production will ramp up in Iraq, Libya and South Sudan. Capital spending by energy firms will grow by around 10%, approaching $700bn, according to Barclays, a bank. BP faces an uneasy year: the US government is scheduled to take it to court over the British company’s role in the 2010 Gulf of Mexico oil spill, with a potential penalty running into tens of billions of dollars.

To watch: Sea breeze. Deep water is not just for drilling, as new technologies provide a way to generate power above the waves far offshore. A number of giant floating wind turbines will be launched in 2013, taking advantage of the stronger, steadier winds in the open sea. The US, the UK and Japan are particularly keen on floating wind farms, given their large offshore wind potential.

From The World In 2013 print edition World in figures: Industries: Energy | The Economist