2021 Feb 3 – BP Energy has launched a new series “Charting the energy transition” based on the analysis in BP’s 2020 Energy Outlook . The first in our series looks at the impact of carbon pricing on the supply of the most emissions-heavy crudes.
You can read the series here .
The BP Energy 2020 Energy Outlook is available here .
In a Business as Usual scenario, where carbon prices remain relatively low over the Energy Outlook’s entire timeframe, the change in supply patterns between different crudes is minimal by 2050 – just 0.5 Mb/d.
But the story changes in the Outlook’s Rapid scenario, in which carbon prices start to rise significantly. Under these circumstances, the supply of crudes with the highest carbon intensity falls by almost 25%.