Energy Use and Economic Growth 1965 – 2012

摘要

Does energy use grow in tandem with GDP? Does it grow faster than GDP in poor than in rich countries?Does it grow more slowly relative to GDP as countries get richer? Has energy use grown more slowly asthe price of oil has risen? The paper uses the BP Statistical Review of World Energy together with data onGDP from the World Bank to answer these questions. Given the strong link between energy use andeconomic growth, a further rise in the prosperity of nations will have to be sustained with increased use ofenergy. This is unlikely to be accommodated by renewable energy alone, and so we are unlikely to see adecline in the use of fossil energy.