Fossil fuels will be with us for a long time. This report dispels any illusions.

Oil, gas and coal will continue to dominate the global energy mix long after 2050 because rapidly growing electricity demand will not be met by renewable energy sources, according to a new McKinsey report.

According to American analysts , electricity demand will increase by 20 to even 40 percent by 2050 in the industrial and construction sectors.

However, it is data centers in North America that are cited in the report as the largest contributor to the increase in energy demand.

US data center demand will grow by nearly 25% annually through 2030, while demand from data centers worldwide (especially in OECD countries) will grow by an average of 17% annually .

The use of natural gas for electricity generation will increase significantly, but coal consumption may also remain higher.

McKinsey expects that fossil fuels will account for about 41-55% of global energy consumption in 2050, down from 64% today. Renewable energy sources, on the other hand, have the potential to provide 61-67% of the global mix.

Analysts say the global energy outlook is being shaped by geopolitical uncertainty and governments prioritizing energy affordability and security over achieving the goals of the Paris Agreement.

McKinsey & Company is an American global management consulting firm, considered one of the most prestigious in the world. The firm specializes in strategic consulting, helping major companies, governments, and social organizations solve their economic challenges.