Ameer Randolph
Fossil fuels—including coal, oil, and natural gas—have been powering economies for over 150 years, currently supplying about 80% of the world's energy. In 2023, fossil fuels accounted for 82% of the global energy mix, with coal, oil, and gas making up around four-fifths of global primary energy consumption. Despite a record rise in renewable energy usage, the world's consumption of fossil fuels continues to increase, with oil and coal accounting for a third and a quarter of the world's energy consumption, respectively.
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What You'll Learn
Fossil fuels supply about 80% of the world's energy
Fossil fuels, including coal, oil, and natural gas, have been the primary source of energy for over 150 years. In 2023, they accounted for approximately 80% of global energy consumption, with coal, oil, and gas comprising the majority of this figure. This percentage has varied over the years, with fossil fuels accounting for over 81% of world energy production in 2019, and around 81.5% in 2022.
The consumption of fossil fuels has increased, with a 1.5% rise in 2023, resulting in a total consumption of 505 exajoules. This increase in fossil fuel usage has been driven by a spike in energy demand, particularly in the Global South, where energy demand is growing at twice the global rate. India, for example, witnessed an 8% increase in fossil fuel consumption in 2023, making up 89% of the country's total energy use.
However, it is important to note that the transition to cleaner and more sustainable energy sources is gaining momentum. In 2023, renewable energy sources accounted for the highest share in history at 15%. While this is a positive development, it still falls short of what is needed to effectively combat global warming.
To reduce energy consumption and curb emissions, various strategies can be implemented. These include improving the energy efficiency of buildings, vehicles, industrial processes, appliances, and equipment. Additionally, promoting public transit, walking, and biking instead of private vehicle usage can help lower energy demand. Carbon capture and storage (CCS) technology is another approach to reducing emissions, with 26 commercial CCS plants in operation worldwide in 2020, capturing 0.11% of total yearly global emissions.
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Oil is the most produced form of energy
Fossil fuels, including coal, oil, and natural gas, have been the primary source of energy for over 150 years, currently supplying about 80% of the world's energy. In 2023, fossil fuels accounted for 82% of the global energy mix, with coal, oil, and natural gas dominating the energy landscape. Oil, in particular, stands out as the most-used energy resource worldwide, powering more than 90% of global transportation.
Oil's prominence in the energy sector is underscored by its versatile applications. Crude oil, extracted primarily from underground reservoirs, is refined into a range of petroleum products. These products include gasoline, diesel, jet fuel, distillates, waxes, lubricating oils, and feedstocks for chemical production. The transportation sector is the most significant consumer of oil, leveraging its high energy density, which makes it convenient for mobile applications.
In the United States, oil consumption averaged about 20.28 million barrels per day in 2022, including biofuels. Gasoline, derived from finished motor gasoline, accounted for approximately 43% of total US petroleum consumption. The US also witnessed a notable consumption of distillate fuel oil, encompassing diesel fuel for various vehicles and equipment, as well as heating oil for residential and industrial use.
Despite oil's dominance, there is a growing recognition of the need to transition away from fossil fuels. Oil is a leading contributor to air pollution and climate change, and its combustion has resulted in significant carbon dioxide emissions. As cleaner technologies and renewable energy sources gain traction, the share of oil and other fossil fuels in the global energy mix is expected to decrease.
While the future of oil production and consumption beyond 2030 remains uncertain, it is clear that oil currently holds the position of being the most produced form of energy. The transition to cleaner energy sources is underway, but the process will take time and concerted global efforts to significantly reduce the dominance of oil and other fossil fuels in the energy sector.
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Coal is the largest source of carbon emissions
Fossil fuels, including coal, oil, and natural gas, have been the primary energy source for over 150 years, currently supplying about 80% of the world's energy. While oil and natural gas are also major contributors to carbon emissions, coal is the single-largest source of carbon emissions. In 2022, CO2 emissions from coal-fired power plants grew by over 2% from the previous year, with emerging market and developing economies in Asia leading this growth. Coal is the most carbon-intensive fossil fuel, and it supplied just over a third of global electricity generation in 2022.
The burning of fossil fuels releases stored carbon and other greenhouse gases into the atmosphere, causing dramatic changes to Earth's climate. Coal-fired power plants are a significant contributor to these emissions, with coal-fired electricity generation reaching an all-time high in 2022. This has resulted in record levels of CO2 emissions from coal-fired power plants, accounting for more than one-third of total electricity generation. In the United States, coal-fired power plants accounted for about 19% of total energy-related CO2 emissions and 55% of total CO2 emissions from the electric power sector in 2022.
Coal is primarily used for electricity generation, and while its share has been decreasing due to the decreasing costs of natural gas and renewable energy sources, it still plays a crucial role in energy production. The transportation sector is the largest source of direct greenhouse gas emissions, with over 94% of the fuel used for transportation being petroleum-based. However, coal-fired power plants contribute significantly to carbon emissions, and the recent increase in coal-fired generation is not in line with the Net Zero Emissions by 2050 Scenario, which calls for immediate reductions.
To achieve net-zero emissions by 2050, global unabated coal-fired generation must end by 2040. This will require a significant decline in coal-fired generation, with a 55% reduction by 2030 compared to 2022 levels. While carbon capture and storage (CCS) technologies can help reduce carbon emissions, they are not a solution for continuing to burn fossil fuels unabated. The development and deployment of less polluting and more efficient technologies are necessary to transition to cleaner energy sources.
In conclusion, coal is the largest source of carbon emissions, and its continued use for electricity generation contributes significantly to global carbon emissions. To address climate change and achieve net-zero emissions, a rapid transition away from coal and other fossil fuels is essential, along with the adoption of less polluting and more efficient technologies.
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Fossil fuel consumption is declining in advanced economies
Fossil fuels, including coal, oil, and natural gas, have been the primary source of energy for over 150 years, currently supplying about 80% of the world’s energy. They were key to industrialization and rising prosperity, but their impact on health and the climate means that we should transition away from them.
While fossil fuel consumption has been changing over the past few centuries, it has increased significantly over the past half-century, with an eight-fold increase since 1950 and a doubling since 1980. The types of fuel we rely on have also shifted from solely coal towards a combination with oil and gas.
However, there are signs that fossil fuel consumption is declining in advanced economies. For instance, in 2020, renewable energy accounted for about 20% of U.S. electricity generation, and coal's share has been steadily decreasing as the costs of natural gas and renewable energy have dropped, making coal less competitive. As coal usage has dropped in the United States, so have carbon dioxide emissions from coal—by 50% from 2007 to 2019. In the Energy Information Administration’s 2021 Energy Outlook, national coal consumption is predicted to continue to decline between then and 2050 as coal-fired electricity plants are retired across the United States.
Furthermore, the COVID-19 pandemic caused a significant drop in the demand for and price of oil, with oil markets in turmoil and producers worldwide suffering. While this is not considered a sustainable way to address climate change, it does demonstrate the possibility of reducing our reliance on oil.
Additionally, the G7 countries, including major economies such as the United States, the United Kingdom, and Japan, have agreed to exit coal in the first half of the 2030s, marking a significant step toward transitioning away from fossil fuels. Advanced economies, along with emerging and developing economies, will need to scale up clean energy investment to align with sustainable development trajectories.
To summarize, while fossil fuel consumption has been dominant and increasing, there are signs of a shift towards renewable energy sources in advanced economies, driven by factors such as declining coal usage, the impact of the COVID-19 pandemic, and international agreements to exit coal.
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Renewable energy sources are growing
Fossil fuels, including coal, oil, and natural gas, have powered economies for over 150 years and currently supply about 80% of the world's energy. However, there is a growing trend towards renewable energy sources. In 2020, renewable energy accounted for about 20% of US electricity generation, and this share is expected to increase. Renewable energy sources are available in all countries, and their potential is yet to be fully harnessed. The International Renewable Energy Agency (IRENA) estimates that 90% of the world's electricity can and should come from renewable sources by 2050.
Renewable energy sources, such as wind, solar, and hydropower, emit little to no greenhouse gases, are readily available, and are often cheaper than fossil fuels. In recent years, strong growth has been observed in solar photovoltaics and wind power, building on the significant contribution of hydropower. Global renewable electricity generation is forecast to climb to over 17,000 terawatt-hours (TWh) by the end of this decade, an increase of almost 90% from 2023. This growth is driven by accelerating wind and solar PV capacity additions, with solar PV accounting for about 70% of the growth in renewable electricity generation in 2023.
While renewable energy sources are growing, the world still has a long way to go before they dominate the energy mix. Clean energy is not yet meeting the entirety of the growing global energy demand, and the share of energy coming from fossil fuels has remained relatively unchanged in recent years. To reduce carbon emissions and mitigate climate change, it is crucial to transition towards renewable energy sources and reduce our reliance on fossil fuels.
To accelerate the adoption of renewable energy, several policies have been introduced worldwide. Notable examples include REPowerEU in the European Union, the Inflation Reduction Act in the United States, and China's 14th Five-Year Plan for Renewable Energy. These policies aim to support and accelerate the deployment of renewable electricity, with China leading in terms of renewable electricity capacity additions in 2023.
In summary, renewable energy sources are indeed growing and play a key role in decarbonizing our energy systems. However, more efforts are needed to align with the goal of reducing carbon emissions and limiting global warming.
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Frequently asked questions
Fossil fuels currently supply about 80% of the world's energy, with coal, oil, and natural gas being the most common sources.
In 2023, the world's consumption of fossil fuels rose by 1.5% to 505 exajoules, according to the Energy Institute. This was driven by a spike in energy demand, more than half of which came from the Global South.
In 2019, fossil fuels accounted for more than 81% of electricity production worldwide. However, the share of electricity production from renewables has been increasing over the years, while the share from fossil fuels has been decreasing.
