2008 World Energy Outlook Released

What's in the energy forecast you ask: increased carbon dioxide emissions, increased demand for coal and a decreasing ability to finance the world's energy needs. Read more highlights (or lowlights depending upon how you look at it) here:

The International Energy Agency, an intergovernmental organization that acts as energy advisor to more than 28 countries, recently released their annual World Energy Outlook, a depressing little report that suggests things will not be getting better any time soon. Here are some projections:

• Carbon dioxide emissions will more than double by 2030 and 97% of the projected increase will come from developing countries between now and 2030.

• World energy demand will expand by 45% between now and 2030.

• All growth in oil demand will come from developing countries.

• Of all the energy sources, demand for coal experiences the largest growth between now and 2030.

And to pay for all of this wonderousness, the World Energy Outlook says:

• Energy subsidies in the 20 largest developing countries hit $310 billion, creating an unsustainable economic burden on developing countries.

• In order to meet energy demand, investment of more than $26 trillion is needed, $1 trillion a year until 2030.

So, what does the World Energy Outlook recommend? (this one's for Phil). They say, and I quote:

While technological progress is needed to achieve some emissions reductions, efficiency gains and deployment of exisiting low-carbon energy [will] account for most of the savings [in carbon emissions].

Good thing that's what we're in the business of doing.