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“Did they, did they not?”

“Will they, will they not?”

“Should they, should they not?”

You can’t really trust BP these days but on this one, i think we should.

BP just published a statistical review of world energy (mostly conventional).  A few highlights (or lowlights, depending on your outlook):

- Energy consumption in emerging markets rose much faster than GDP growth.  In developed markets, it was reverse

- The world’s largest increase in oil production came from the US, mainly from the Gulf of Mexico: put this in perspective when you view the oil spill!

- World primary energy consumption FELL 1.1%, the first decline since 1982.  (that doesn’t mean we were smarter, just poorer due to recession

- World oil production declined by 2.6%, mainly due to OPEC cuts (7%), partially offset by US production increase (7%)

- Natural gas production declined by 2.1%, the FIRST decline ever!

- Coal’s share of world energy consumption was 30%, the LARGEST since 1970

- Hydro was suddenly the fastest growing major fuel last year, which is both good/bad overall.

- Prices of all fuels fell sharply, although i don’t really feel it where i sit.