It’s a two-fer Wednesday on the international energy outlook front. Lucky us! First we got the IEA’s horrifying report about the consequences of the recession on the energy sector.
Now we get the EIA’s report, which says the world’s energy demands are set to soar in the next 21 years, with developing countries leading the way.
Here’s the highlights of the report:
- Energy demand will rise 44% by 2030, with 70% of the demand increase coming from developing countries.
- Oil will go to $110 per barrel in 2015 and $130 per barrel in 2030.
- World renewable energy use for electricity goes from 19% in 2015, to 21% in 2030.
- CO2 emissions will rise 39% unless new policies like cap and trade are implemented.
Here’s more minute, but interesting details:
- World net electricity generation increases by 77%, from 18.0 trillion kilowatthours in 2006 to 23.2 trillion kilowatthours in 2015 and 31.8 trillion kilowatthours in 2030.
- World coal consumption is projected to increase from 127 quadrillion Btu in 2006 to 190 quadrillion Btu in 2030, an average annual rate of 1.7 per cent.
- Electricity generation from nuclear power is projected to increase from about 2.7 trillion kilowatthours in 2006 to 3.8 trillion kilowatthours in 2030, as concerns about rising fossil fuel prices, energy security, and greenhouse gas emissions support the development of new nuclear generation capacity.
- Major urban areas in the non-OECD nations are expected to address transportation congestion and strains on infrastructure with a variety of solutions, including development of mass transit (bus and/or rail) and urban design that reduces vehicle-miles traveled, among other improvements in transportation networks
Business Insider Emails & Alerts
Site highlights each day to your inbox.