LONDON – Energy will become “viciously more expensive” and polluting if governments don’t promote renewable and nuclear power in the next two decades instead of burning coal, the International Energy Agency said.
Global demand for energy is set to increase 40 percent by 2035, the agency based in Paris said in its annual World Energy Outlook report last week. Consumption will rise 1.3 percent a year to 16.96 billion metric tons of oil equivalent in 2035, spurred by China and other emerging economies, the IEA said.
The worst atomic accident in 25 years at the Fukushima plant in Japan on March 11 led Germany, Europe’s biggest economy, to close eight of its 17 reactors permanently.
Nuclear plants generate power continuously while emitting virtually no greenhouse gases. Without nuclear, keeping world temperature gains at 3.6 degrees will cost an extra $1.5 trillion through 2035, the IEA said.
“If we do not have an international legally binding agreement soon, and if it doesn’t give a boost to a major investment wave of clean energy technologies by 2017, the door to 2 degrees will be closed forever,” Fatih Birol, the IEA’s chief economist in Paris, said in an interview.
A shift away from nuclear power “would definitely be bad news for energy security, for climate change and also for the economics of the electricity price.”
Investment in energy infrastructure of $1.5 trillion a year is needed to meet projected demand through 2035, and even then, “the cost of energy will increase,” Birol said.
The IEA, which advises 28 industrialized consuming nations, forecast crude prices will climb to $120 a barrel in 2035, or a nominal $212. The surge will coincide with oil demand rising to 99 million barrels a day in 2035 from 87 million last year, the agency said.
The Organization of Petroleum Exporting Countries’ share of global oil output will increase to 51 percent in 2035 from 42 percent last year, according to the IEA.
“More than 90 percent of the growth in oil production in the next two decades needs to come from the Middle East and North African countries,” costing $100 billion of investment a year, Birol said.
Global coal demand will advance to 4.1 billion tons of oil equivalent from 3.29 billion tons in 2009, or a 24 percent rise over the forecast period, under the IEA’s base case scenario.
journalgazette.net
Global demand for energy is set to increase 40 percent by 2035, the agency based in Paris said in its annual World Energy Outlook report last week. Consumption will rise 1.3 percent a year to 16.96 billion metric tons of oil equivalent in 2035, spurred by China and other emerging economies, the IEA said.
The worst atomic accident in 25 years at the Fukushima plant in Japan on March 11 led Germany, Europe’s biggest economy, to close eight of its 17 reactors permanently.
Nuclear plants generate power continuously while emitting virtually no greenhouse gases. Without nuclear, keeping world temperature gains at 3.6 degrees will cost an extra $1.5 trillion through 2035, the IEA said.
“If we do not have an international legally binding agreement soon, and if it doesn’t give a boost to a major investment wave of clean energy technologies by 2017, the door to 2 degrees will be closed forever,” Fatih Birol, the IEA’s chief economist in Paris, said in an interview.
A shift away from nuclear power “would definitely be bad news for energy security, for climate change and also for the economics of the electricity price.”
Investment in energy infrastructure of $1.5 trillion a year is needed to meet projected demand through 2035, and even then, “the cost of energy will increase,” Birol said.
The IEA, which advises 28 industrialized consuming nations, forecast crude prices will climb to $120 a barrel in 2035, or a nominal $212. The surge will coincide with oil demand rising to 99 million barrels a day in 2035 from 87 million last year, the agency said.
The Organization of Petroleum Exporting Countries’ share of global oil output will increase to 51 percent in 2035 from 42 percent last year, according to the IEA.
“More than 90 percent of the growth in oil production in the next two decades needs to come from the Middle East and North African countries,” costing $100 billion of investment a year, Birol said.
Global coal demand will advance to 4.1 billion tons of oil equivalent from 3.29 billion tons in 2009, or a 24 percent rise over the forecast period, under the IEA’s base case scenario.
journalgazette.net
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