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BP Forecasts Higher Oil Demand, Slower Clean Energy Transition

BP's latest energy outlook shows oil demand rising to 83M barrels daily by 2050, signaling slower clean energy transition. D-Wave Quantum's power needs highlight tech's energy impact.

This revised energy outlook has significant implications for climate policy, investment strategies, and global economic planning. For consumers, it suggests that energy prices may remain volatile as traditional and renewable sources compete, potentially affecting everything from transportation costs to household utility bills. For investors, it highlights the continued relevance of fossil fuel companies alongside emerging clean energy technologies, requiring more nuanced portfolio strategies. The forecast also underscores the challenge of balancing technological advancement with environmental goals, as energy-intensive innovations like quantum computing could strain decarbonization efforts. This reality check on energy transition timelines means governments, businesses, and individuals must prepare for a longer coexistence of traditional and renewable energy sources.