energy: The speed of growth was without parallel, the company said in its annual energy outlook, according to The Guardian. While oil took almost 45 years to go from 1% of global energy to 10%, and gas took more than 50 years, renewables are expected to do so within 25 years in the report's central scenario. In regions such as Europe, the figure will be as high as 50% by 2040. In the event of a faster switch to a low carbon economy, that period comes down to just 15 years, which BP said would be literally off the charts relative to historical shifts. The outlook's core scenario envisages that oil demand does not peak until the 2030s, though under its greener scenario that milestone could be reached between now and the early 2020s. But the company, as in previous editions of its report, does not see oil going away any time soon.
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