12/12/2023 0 Comments Bumpy road ahead signIf world energy supply is growing, it encourages growth of the world economy. It is also important for creating jobs that pay well. It is important for manufacturing goods and transporting them to their destinations. Energy consumption is used in every aspect of the economy. ![]() There is a similar issue with energy consumption. We all know that if a political party has the support of almost 70% of voters, it is likely to be dominant. Amounts based on data from BP’s 2022 Statistical Review of World Energy. Comparison of total energy consumption as a percentage of world energy consumption for US + Affiliates and Rest of the World. In Figure 3, I add together the amounts in Figures 1 and 2 and compare them to the indicated energy consumption of what is left, which I call, “Rest of the World.” It is clear that there has been a huge shift in which grouping consumes the majority of the world’s energy supply.įigure 3. The consumption of the Rest of the World has been soaring, while that of US plus Affiliates has shrunk. The energy consumption of US plus Affiliates as compared to the energy consumption of Rest of the World has shifted remarkably since 1965. This, too, is less than half of the 1965 percentage. By 2021, their consumption fell to 17.6% of the world’s supply. The EU is based on 2021 membership.įigure 2 shows that Affiliates consumed 35.5% of the world’s energy supply in 1965. Energy consumption for selected advanced economies (referred to in this post as Affiliates) as a percentage of world energy consumption, based on data from BP’s 2022 Statistical Review of World Energy. Affiliates consumed over 35% of the world’s energy supply in the 1965 -1973 period, but this has fallen in recent years.įigure 2. For convenience, I call these countries Affiliates. The selected economies are the EU, Japan, Canada, the UK, and Australia. I expect these countries would tend to follow the US’s lead, regardless of whether its actions really make sense. The countries in this category are advanced economies that have democratic governments. There are some economies that have much in common with the US. In other words, in 2021, the US’s share of world energy consumption in 2021 was less than half of its 1965 level. US Energy consumption as a percentage of world energy consumption, based on data from BP’s 2022 Statistical Review of World Energy.įigure 1 shows that the US’s share of world energy consumption amounted to 33.3% of world’s energy supply in 1965, but only 15.6% in 2021. Based on this data, US energy consumption as a percentage of the world’s total energy consumption has been falling since 1965.įigure 1. ![]() The energy consumption of the US as a percentage of the world’s has been falling since 1970.ĭata on energy consumption by part of the world is readily available only back to 1965, rather than 1945. Hegemony is closely related to energy consumption because energy is what allows an economy to manufacture goods of all kinds, including armaments needed for war. In this post, I will elaborate further on these ideas. After such a war, the US could mostly be cut off from trade with Asian nations. The result could be war, even nuclear war, as the US loses its hegemony. These countries are at great risk of having their consumption cut back. My analysis suggests that the US and some of its “Affiliates” tend to be inefficient users of fossil fuels. ![]() To relieve the stress of inadequate supply, some inefficient users of energy need to have their fossil fuel consumption greatly reduced. In some sense, the fossil fuel supply is no longer adequate to go around. In fact, total fossil fuel extraction may begin to fall in the near future. Extraction is not rising sufficiently to keep up with population growth. One part of today’s problem is the fact that the world’s fossil fuel supply, particularly oil, is becoming depleted.
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