Asia set to drive global demand (with video)

Petroleum consumption in Europe has declined over the past three decades due to energy-conservation policies and the region’s economic malaise.

North American consumption is up slightly since 1980 but more recently has been declining, thanks mostly to automobile fuel-economy standards.

Over the same period, world demand has grown from 63.1 million barrels a day of petroleum-derived fuels to 88.9 million barrels per day last year.

How?

Asia — where petro-fuel consumption since 1980 has nearly tripled, thanks to hyper-growth in China and India.

That’s the story told by this animated clip from the U.S. Energy Information Administration.