July 11, 2005: Report Finds Record Demand For Energy In 2004
LONDON - Rapid growth in world demand for all types of energy led to higher energy prices in 2004, according to a report issued by BP. While growth in demand from China in particular was exceptional, the strength of demand growth occurred globally, increasing above the 10-year trend in every region of the world.
"The world's overall energy consumption grew by 4.3 percent in 2004. In volume terms, this is the largest-ever annual increase in global primary energy consumption and is the highest percentage growth since 1984. It is exceptional that this demand growth was so geographically widespread," said Peter Davies, BP's chief economist, as he introduced the BP Statistical Review of World Energy 2005.