bp publishes Energy Outlook 2023

This year’s bp Energy Outlook explores the key trends and uncertainties surrounding the energy transition out to 2050. The three main scenarios considered in the Outlook – Net Zero, Accelerated, and New Momentum – have been updated to take account of two major developments over the past year: the Russia-Ukraine war and the passing of the Inflation Reduction Act in the US.

The Outlook’s three main scenarios are designed to explore the range of possible outcomes for the global energy system over the next 30 years. Understanding this range of uncertainty helps bp to shape a strategy which is resilient to the different speeds and ways in which the energy system may transition. bp’s chief economist, Spencer Dale, said: “Global energy polices and... ... More: Official Press Release bp

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bp, energy outlook, energy transition, net zero, Russia, Ukraine, war, energy security, renewable energy, Europe, IRA, USA, scenario, strategy