Are world oil and gas supplies under threat? How could a new international accord on stabilising greenhouse-gas emissions affect global energy markets? World Energy Outlook 2008 answers these and other burning questions.
WEO-2008 draws on the experience of another turbulent year in energy markets to provide new energy projections to 2030, region by region and fuel by fuel. It incorporates the latest data and policies. WEO-2008 focuses on two pressing issues facing the energy sector today:
• Prospects for oil and gas production: How much oil and gas exists and how much can be produced? Will investment be adequate? Through field-by-field analysis of production trends at 800 of the world’s largest oilfields, an assessment of the potential for finding and developing new reserves and a bottom-up analysis of upstream costs and investment, WEO-2008 takes a hard look at future global oil and gas supply.
• Post-2012 climate scenarios: What emissions limits might emerge from current international negotiations on climate change? What role could cap-and-trade and sectoral approaches play in moving to a low-carbon energy future?
Two different scenarios are assessed, one in which the atmospheric concentration of emissions is stabilised at 550 parts per million (ppm) in CO2 equivalent terms and the second at the still more ambitious level of 450ppm. The implications for energy demand, prices, investment, air pollution and energy security are fully spelt out. This ground-breaking analysis will enable policy makers to distill the key choices as they strive to agree in Copenhagen in 2009 on a post-Kyoto climate framework.
With extensive data, detailed projections and in-depth analysis, WEO-2008 provides invaluable insights into the prospects for the global energy market and what they mean for climate change.