FINLAYSON: Rapid transition to low-carbon world simply not realistic

Amid the turmoil and trade disruptions caused by Russia’s invasion of Ukraine last year, concerns about energy reliability and security suddenly reappeared. For many months, the higher energy costs linked to the war hammered consumers and businesses across the globe.

So how much energy does the world consume? The answer is roughly 600 exajoules annually, equivalent to more than 100 billion barrels of oil. This is more than in 2019, before the pandemic hit. Since 2015, when the international Paris Agreement on climate change was inked, global energy consumption has climbed by roughly 10%.Article contentAs for energy demand across different fuel types, the good news is that renewable energy has made headway.

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