BP upbeat about oil industry and expects prices back at $100

British oil company accused of being self-serving after saying fossil fuels will still be providing 80% of world's total energy supply in 2035

BP has predicted a bright future for the oil and gas industry with crude prices spiking at $100 a barrel again, huge increases in shale output and new production from Canadian tar sands.

The British oil company believes fossil fuels will still be providing 80% of total energy supply in 2035 and admits that under this scenario, carbon emissions will rocket.