Ameer Randolph
Fossil fuels (coal, oil, and gas) have long dominated the global energy mix and continue to do so, despite the growing adoption of renewable energy sources. In 2023, fossil fuels accounted for 82% of global energy consumption, with coal, oil, and natural gas comprising the majority of this share. While renewable energy sources are making strides, particularly in recent years, the world remains heavily reliant on fossil fuels, which are the largest driver of global climate change and air pollution, resulting in significant health and economic costs.
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What You'll Learn
Fossil fuels still dominate global energy production
Fossil fuels (coal, oil, and gas) have long played a dominant role in global energy systems. In 2023, fossil fuels accounted for 82% of the global energy mix, with coal, oil, and natural gas comprising the majority of this figure. This figure has remained relatively stable, with fossil fuels accounting for over 80% of global energy production in 2019 and 2020 as well. The burning of fossil fuels is the largest driver of global climate change, contributing to around three-quarters of global greenhouse gas emissions. It is also a significant contributor to local air pollution, causing approximately 2.9 trillion dollars in health and economic costs in 2018 alone.
Despite the negative impacts of fossil fuels, global energy consumption hit an all-time high in 2023, with a 1.5% increase in planet-warming fossil fuels compared to 2022. This rise was driven by a spike in energy demand, more than half of which came from the Global South, where energy demand is increasing at twice the global rate. While renewable energy sources are gaining traction, with a record-high 15% share of the global energy mix in 2023, fossil fuels still dominate the energy landscape.
Coal, in particular, has been the single largest source of carbon emissions, responsible for over 0.3 degrees Celsius of the 1.2-degree increase in global average temperatures since the Industrial Revolution. It is encouraging to note that coal consumption is declining in many parts of the world, with a 4% decrease in production in 2020. However, oil and gas consumption continue to grow, and gas has become the second-largest source of electricity production globally. While gas emits less CO2 per unit of energy than coal, the focus should be on transitioning to low-carbon sources such as renewables and nuclear power.
The transition to cleaner energy sources is crucial to address climate change and air pollution. While renewable energy technologies are becoming more affordable, with prices dropping significantly, fossil fuels still remain the primary source of global electricity. This is due to the continued dependence on fossil fuels by influential countries, with several key nations sourcing more than half of their electricity from fossil fuels in 2023. As a result, it is unlikely that bold power sector reforms will be achieved in the short term, and the world continues to face the challenge of reducing its reliance on fossil fuels.
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Coal, oil and gas are the main fossil fuels
Fossil fuels, including coal, oil, and gas, have long played a dominant role in global energy systems. In 2023, they accounted for 82% of the global energy mix, according to the Energy Institute's report on world energy. Oil and coal made up a third and a quarter of the world's energy consumption, respectively, with natural gas also contributing significantly. This marked a 1.5% increase in fossil fuel consumption compared to 2022, driven by a spike in energy demand, particularly in the Global South.
Coal, the cheapest yet dirtiest fossil fuel, is the largest source of carbon emissions, contributing to global warming and air pollution. While coal consumption is declining in many parts of the world, it remains the dominant fuel for power generation, accounting for 36-37% of global electricity production in 2023 and 2019, respectively.
Oil, the second most important fuel after coal, has seen a decrease in its share of total energy production over the years. In 2019, it accounted for 31% of the world's total energy supply, a significant drop from 44% in 1971. Oil is a major contributor to electricity production, making up only a small share, while also powering the transport sector.
Gas, the second-largest source of electricity production globally, is increasingly being used as a substitute for coal. This transition is positive from a climate perspective, as gas emits less CO2 per unit of energy. However, the ultimate goal is to shift towards low-carbon sources like renewables and nuclear power.
The burning of fossil fuels for energy has severe consequences, including the production of carbon dioxide (CO2) and other greenhouse gas emissions, which are the largest drivers of global climate change. It also contributes to local air pollution, causing millions of premature deaths annually. As low-carbon energy sources become more accessible, the world needs to rapidly transition away from fossil fuels to mitigate climate change and improve human health.
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Fossil fuels are the largest driver of climate change
Fossil fuels—coal, oil, and natural gas—are the world's primary energy source. In 2023, they comprised 82% of the global energy mix, with oil and coal accounting for a third and a quarter of the world's energy consumption, respectively. While renewable energy sources reached a record high of 15% in 2023, they still fall far short of what is needed to mitigate global warming.
The burning of fossil fuels releases large amounts of carbon dioxide (CO2) and other greenhouse gases into the atmosphere, making them the largest driver of climate change. In 2018, 89% of global CO2 emissions came from fossil fuels and industry. Coal, the cheapest and dirtiest fossil fuel, is the single largest source of carbon emissions, responsible for over 0.3°C of the 1°C increase in global average temperatures since the Industrial Revolution. Oil releases are also significant, contributing approximately a third of the world's total carbon emissions. Natural gas, while promoted as a cleaner alternative to coal and oil, is still a fossil fuel, accounting for a fifth of global carbon emissions.
The greenhouse gases emitted from burning fossil fuels trap the sun's heat in the Earth's atmosphere, causing global warming and climate change. The average global temperature has already increased by 1°C, surpassing the critical 1.5°C milestone in 2024. This warming has led to rising sea levels, extreme weather events, biodiversity loss, species extinction, and increased frequency and intensity of droughts, among other impacts.
To limit global warming to 1.5°C above pre-industrial levels, the Intergovernmental Panel on Climate Change (IPCC) warns that fossil fuel emissions must be halved within 11 years. This will require a rapid transition away from fossil fuels towards low-carbon energy sources, such as renewables and nuclear power. While there is reason for optimism, with investments in clean energy technologies and infrastructure forecasted to reach $2 trillion in 2024, urgent action is needed to reduce carbon emissions and build more low-carbon energy sources to meet the growing global energy demand.
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Renewable energy sources are gaining ground
Fossil fuels (coal, oil, and gas) have long dominated global energy systems, and they continue to do so. In 2023, fossil fuels accounted for 82% of the global energy mix, with coal, oil, and natural gas comprising the majority of this figure. Despite the ongoing aggressive rollout of renewable energy sources, fossil fuels remain the primary source of global electricity.
However, renewable energy sources are gaining ground. In 2023, renewables accounted for 15% of the global energy total, the highest share in history. Worldwide, electricity generation from renewable sources has grown at nearly triple the pace of fossil fuels since 2019. Prices for renewable energy technologies are dropping rapidly, making renewable energy more attractive to countries of all income levels. The cost of electricity from solar power fell by 85% between 2010 and 2020, while the costs of onshore and offshore wind energy fell by 56% and 48%, respectively.
In 2019, renewables provided almost 27% of global electricity, compared to 24% for natural gas. While coal remained the dominant fuel for power generation in 2019, reaching 37% of global electricity production, renewables began to grow strongly, with coal's share of power production sliding from around 40% in the mid-2000s to 37% in 2019. The International Renewable Energy Agency (IRENA) estimates that 90% of the world's electricity can and should come from renewable energy by 2050.
In addition to being more affordable, renewable energy sources offer a way out of import dependency, allowing countries to diversify their economies and protect themselves from the unpredictable price swings of fossil fuels. Every dollar of investment in renewables creates three times more jobs than in the fossil fuel industry. The transition towards net-zero emissions is expected to lead to a net gain of 9 million jobs in the energy sector, as losses in fossil fuel production are offset by gains in clean energy and energy-related industries.
While fossil fuels still account for a large majority of global energy production, the growth of renewable energy sources provides reason for optimism. With continued investment and support, renewable energy sources can further reduce our reliance on fossil fuels and help address climate change and air pollution.
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The transition to clean energy will create jobs
Fossil fuels (coal, oil, and gas) have long played a dominant role in global energy systems, accounting for 80-82% of global primary energy consumption in recent years. However, the transition to clean energy is not just necessary to combat climate change and reduce carbon emissions, but it also presents an opportunity to create new jobs and stimulate economic growth.
The shift towards clean energy sources is expected to generate 10.3 million net new jobs globally by 2030, according to the International Energy Agency (IEA). This will more than offset the 2.7 million jobs expected to be lost in the fossil fuel industry. The biggest impact will be felt in modernizing energy infrastructure, with over 13 million jobs expected to be gained in electrical efficiency, power generation, and the automotive sector.
In the United States, the transition to clean energy is expected to create millions of new jobs. The Inflation Reduction Act (IRA) of 2022, which aims to accelerate the transition to clean energy and reduce emissions, is projected to deliver significant economic benefits and create numerous jobs. Federal policies, such as tax credits for low-carbon technologies and investments in climate-friendly infrastructure, will play a crucial role in ensuring a just transition and preventing job losses in certain sectors.
Furthermore, improving the energy efficiency of buildings and advancing building electrification will be labor-intensive, creating local construction jobs across the country. The power generation sector is also expected to witness significant job growth, with federal investments in zero-carbon electricity and modernizing the electric grid. Additionally, the clean energy technologies of the future are expected to create more well-paying jobs per energy dollar spent, even as these technologies mature.
Overall, the transition to clean energy will undoubtedly impact employment globally. While some sectors may experience job losses, the net effect on employment growth is expected to be positive, particularly in the early years of the transition.
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Frequently asked questions
Fossil fuels comprised 82% of the global energy mix in 2023, with coal, oil, and natural gas accounting for 82% of the global energy consumption.
Fossil fuels accounted for more than 81% of global energy production in 2019.
Fossil fuels still dominate global power systems, with over 60% of global electricity generated in 2023 produced by fossil fuels.
