What We Need to Know about World Energy Use

Looking at world energy use, we typically think about carbon emissions from those of us that use a lot of it. The other side though is the hundreds of millions of people with inadequate energy access.

6 Facts About World Energy Use

1. Fossil fuels still dominate world energy consumption. Exceeding 80 percent at 374 exajoules, coal, oil, and natural gas generate most of our energy:
2. Since 1800, energy use has soared. But you can see that the real take-off started 75 years ago:
3. Looking at the world, we would see that the northern hemisphere’s energy use per person far exceeds the global south:

4. However, the South’s use of energy is up while the North’s is declining:

5. Meanwhile, because more CO2 emissions come from factories and affluent households, we wind up with a correlation between energy use and per capita GDP. Countries with high GDP per capita and emissions include the U.S., Canada, South Korea, and Switzerland. At the same time, Malawi, Ethiopia, and Tanzania are way down the income and emissions ladder:

6. As a source of economic growth and daily comfort, electricity looms large as the plus side of emissions:  

Our Bottom Line: Energy Tradeoffs

Always, as economists, we can return to the tradeoffs required by every decision. With world energy consumption, one tradeoff involves the regions of the world with inadequate access to energy. As we have considered before, electricity’s benefits range from nighttime safety and business activity to education and air conditioning. However, the cost comes from escalating the emissions that are heating the earth.

My sources and more: Combining Our World in Data, here and here, and the 2024 Statistical Review of World Energy, I wound up with the global energy picture.