2008 in review
Global energy consumption growth remained robust in 2008
Global energy consumption growth slowed
in 2008, with slower economic growth and
higher average prices breaking a string of
fi ve consecutive years of above-average
growth. Production growth exceeded that
of consumption for all fossil fuels.
For the year as a whole, prices for all
forms of traded energy rose substantially
despite sharp declines late in the year. Oil
prices reached infl ation-adjusted record
highs, rising for a seventh consecutive year.
Internationally traded coal prices rose more
steeply than other fuels. Natural gas prices
in Europe and for Asia-Pacifi c liquefi ed
natural gas (LNG) rose in line with – or
more rapidly than – oil prices, while
North American price increases were
more moderate.
Energy developments
World primary energy consumption – including oil, natural gas, coal, nuclear and hydro power – grew by 1.4% in 2008, the slowest growth since 2001. Non-OECD primary energy consumption exceeded OECD consumption for the fi rst time. The Asia- Pacifi c region accounted for 87% of the world’s energy consumption growth. For the third consecutive year, coal accounted for the majority of primary energy consumption growth. Chinese consumption growth slowed for the fi fth consecutive year, yet China accounted for nearly three-quarters of global growth. Energy consumption among exporting regions remained robust, with above-average growth in the Middle East and Africa. Consumption in the US fell by 2.8%, the largest decline since 1982.
Statistical Review 2009
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