The Big Picture: 2009 BP Statistical Review of World Energy

In the Statistical Review of World Energy 2009, BP provides a long term historical view of the energy markets, and a clear recap of what is arguably one of the most volatile years for energy ‐ 2008. Tony Hayward, BP’s Group Chief Executive summed up the analysis by saying, “Our data confirms that the world has enough proved reserves of oil, natural gas and coal to meet the world’s needs for decades to come. The challenges the world faces in growing supplies to meet future demand are not below the ground, they are above ground. They are human, not geological.” Although crude oil consumption grew by 1.4% in 2008, it marked the slowest growth since 2001.