đ¨ THE ENERGY GAP IS NOT CLOSING
Itâs scaling with income
⢠US 250â300 GJ per person
⢠#India 25â30 GJ per person
⢠DR Congo 1 GJ per person
Huge gap between richest and poorest
Why?
⢠Industrialisation drives energy intensity
⢠Urbanisation multiplies electricity demand
⢠Mobility = oil demand
⢠Income growth = appliance growth
If billions move from $5k to $15k GDP per capita:
⢠Power grids must triple
⢠LNG demand structurally rises
⢠Oil demand plateaus later than expected
⢠Coal exits slower than models assume
Per capita #energy use is a proxy for wealth.
And most of the world is still at the bottom left of that chart.
Markets price peak demand.
Demographics price expansion.
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