The Energy Minute: Global Energy Spending to Hit $13 Trillion in 2022

According to a new study by energy transition research firm Thunder Said Energy, global energy spending will hit an all-time high of $13 trillion in 2022, accounting for 13% of global GDP.

Soaring energy commodity prices, which are caused by energy supply chain restrictions, increased energy demand, and geopolitical concerns, such as Russia’s invasion of Ukraine, have resulted in a quick increase in spending.

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