The Future Of Oil In The New Century

With the growth of industrialisation, globalisation, advances in technology, and rapid communication, it is evident that the world’s energy needs will only increase. In fact, according to statistics, electricity demands alone rising twice as fast as the overall energy use, and by 2040, it is likely to increase even more. The issue surrounding who consumes the most energy depends on the type of energy. Currently, China is leading the world when it comes to electricity consumption, while the U.S. consumes the most oil. Canada uses an energy mix of hydroelectricity, oil, natural gas, nuclear, among others. And as things improve in those countries, consumption patterns are also expected to evolve.

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