BP Chief Says Oil Demand to Peak by 2030

February 3, 2010 /EIN PRESSWIRE/ Tony Hayward, CEO of BP, believes the global demand for oil will peak between 2020 and 2030.

Just last summer, Hayward was quoted as saying that he believed the demand for oil would peak decades into the future and that 60% of the world’s energy will still come from fossil fuels in 2050. BP says Hayward’s adjustment in thinking is based on lower demand from western nations brought about by energy efficiency measures and greater use of renewable energy.

Although Hayward’s vision of the peak for oil consumption is now closer to the present, it greatly differs from the prediction of banking giant Deutsche Bank, which predicts the peak for oil will come within the next six years.

Read more about this story at BP Energy Daily Report:

Latest BP & Oil Demand news – http://bpenergy.einnews.com/news/bp-oil-demand
Latest BP Energy news – http://bpenergy.einnews.com/

Located at http://bpenergy.einnews.com, BP Energy Daily Report is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest BP energy news from around the world, saving them valuable time they’d spend searching for information. New users to BP Energy Daily Report can enjoy a no-obligation, one-week free trial.

About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.

ABOUT THE AUTHOR: