How Population Decline Could Impact the Energy Industry

In 1992, novelist P.D. James published “The Children of Men.” It is a brutal novel, set in 2021, about a world without births, where mankind is on the brink of extinction, the British government is unrecognizable, and hope for the future of an aging population has crumbled into a decaying spiral of suicides, crime and exploitation. Well, it’s now 2021 and our world is still creating children, but according to a July 2020 BBC article, at a lower rate. And this trend may well present us with new realities, including when it comes to the energy industry. How populations are projected to change by 2100 China and Japan, currently high demand oil and gas consumers, could see their populations drop by roughly 50%. India could fare a bit better but may still see a population drop of nearly 25%, while Russia is projected to see its population drop between 15-50% by 2100. Other high hydrocarbon demand regions of the world have different outlooks. U.S. population growth is projected to increase from 331 million in 2020 to 404 million in 2060, but flatten out from then to 2100. According to data from the European Commission, the European Union is projected to… continue reading

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