BP Plc (BP) believes that all U.S. energy will be self-sufficient by 2035 in its Energy Outlook 2035 report.
The oil company released the report today which claims that the U.S. will be able to do so thanks to the acceleration of shale oil and gas output. That growth combined with the slowing demand for shale and gas explains why all U.S. energy will be self-sufficient by 2035.
BP’s report says that world energy demand will rise by 41% by 2035 from 2012 which is less than the 52% gain in the last two decades. Additionally, 95% of demand growth will come from emerging economies and over half the increase will come from China and India.
BP stock is down 0.4% Wednesday.