Population growth in cities like Shanghai is making Asia the world leader in energy demand. (Source: Shutterstock.com)
While the U.S. is well on its way to becoming one of the top oil and gas producers and exporters, it will soon take a backseat to the developing world—particularly Asia—when it comes to shaping demand for energy for years to come.
Rice University’s Baker Institute recently published a report looking at energy demand trends and patterns and found that as the developing world’s population grows in places like Africa, Asia and Latin America so will their needs for fossil fuels—coal, oil and natural gas. Asia, primarily on the strength of China and India, will be the biggest of energy consumers.