As the developing world progresses in their modernization, energy demands will rise accordingly. The continued pressure on existing energy sources will only grow and the need for new technologies will expand.
World Energy Outlook Sounds The Alarm
Oxford Analytica 11.08.07, 6:00 AM ET
The International Energy Agency's World Energy Outlook 2007 paints an alarming picture of the future of global warming and energy security, reporting that the world's energy needs will increase by over 50% by 2030.
Energy demand, imports, coal use and greenhouse gas emissions have all increased since last year's accounting.
Fossil fuels will continue to dominate the fuel mix, accounting for 84% of the projected overall demand increase from 2005 to 2030. The agency expects the following developments in the global market:
--Energy-related carbon dioxide emissions will rise.
--Oil demand will reach 116 million barrels per day by 2030, up 32 million from 2006.
--Coal will see the largest usage increase in absolute terms, rising 73% in the 25-year period, with its share of total energy demand growing from 25% to 28%.
--Electricity use will double, with its share of final energy consumption rising from 17% to 22%.
To accommodate this expansion...(complete article here).