(+1.6%)McKinsey&Company has published an adaptation of the previously published on LinkedIn article, which summarizes the prediction for the future of the company on world energy until 2050.
According to the company's forecasts, demand will grow by approximately 0.7% annually until 2050 (compared to the 1.5% annual growth for the period from 2000 to 2015). The company expects fossil-fuel cars to use 40% less fossil-fuel per mile compared to the current figures.
The company further predicts that by 2050 coal will generate 16% of world energy (currently this figure is 44%), while fossil fuels will account for 38% of world energy generated (down from current 66%). However, coal, oil and gas will account for 74% of overall primary energy demand (down from currrent 82%).
The author points out that in the environment of growing demand for energy and volatile prices, the only way to hedge against the volatility risks is to increase energy efficiency and invest in renewable energy.