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BP: Free markets effective where allowed to work

07/07/2008
Despite high prices, above-average economic growth drove robust global energy-demand growth last year, according to BP’s latest statistical review of world energy.Energy consumption worldwide increased 2.4% in 2007, driven by developing countries. This compares to 2.7% worldwide energy demand growth a year earlier.Mark Finley, general manager of global energy markets for BP America, told a Houston audience June 24 that it is countries outside the Organization for Economic Cooperation and Development that are driving today’s global economic growth and have accounted for 90% of all energy demand growth over the past 5 years.These non-OECD countries have experienced an energy-int...
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