12 November 2011, Sydney Morning Herald
The International Energy Agency warned in its annual World Energy Outlook that if the world continues building greenhouse-gas-emitting factories and vehicles at the current pace for just the next five years, it ‘‘will lead to irreversible and potentially catastrophic climate change.’’ Then there is that rising demand. While normally a boon for any commodity, rising demand could clash with falling productivity at existing conventional wells and squeeze the industry. The falloff in existing fields will be five times greater than the increase in flow from unconventional sources, predicted Fatih Birol, the chief economist at the IEA.
11 November 2011, Commodity Online
If Russia increased its energy efficiency in each sector to the levels of comparable (developed) countries, it could save almost 1/3 of its annual primary energy use, an amount similar to the energy used in one year by the United Kingdom, the International Energy Agency said in its latest World Energy Outlook. "Faster implementation of efficiency improvements and energy market reforms would accelerate the modernisation of the Russian economy and thereby loosen its dependency on movements in international commodity prices." Energy efficiency in Russia, although improved in recent years, remains low due to poor infrastructure and harsh climate. Total energy demand in Russia is projected to rise 28 per cent by 2035 to 830 million tonnes of oil equivalent at a 1-per cent average annual rate, with transportation growing the fastest, followed by industry and power sectors.
11 November 2011, All Africa
According to International Energy Agency, the world may have a lot more natural gas than previously thought. The rise of “unconventional gas” production has recently taken center stage, transforming not only the outlook for the gas industry, but of the world energy market and international energy politics. For example, the IEA predicts that in 2020, US unconventional gas production will almost double the conventional onshore.
10 November 2011, The National, United Arab Emirates
In its 2011 World Energy Outlook, the International Energy Agency forecasts one-third growth in demand projected in the next 25 years, which will require investment to avoid scarcity of resources. Although current economic pressures have lowered the price of crude, it remains high and it is projected to be $120 in 2035, and could grow to $150 if the main producing region, MENA, does not make – as is likely to happen – the necessary investment of $100 billion annually, IEA Chief Economist Dr. Fatih Birol indicated. “The new political situation in these countries following the revolutions could change investment priorities and that petroleum is left in favour of social or other spending”.
10 November 2011, Aysor, Armenia
Every month now counts: if the world is to stay below 2C of warming, which scientists regard as the limit of safety, then emissions must be held to no more than 450ppm of carbon dioxide in the atmosphere; the level is currently around 390ppm. But the worlds existing infrastructure is already producing 80% of that "carbon budget", according to a new analysis by the IEA, published on Wednesday. This gives an ever-narrowing gap in which to reform the global economy on to a low-carbon footing. "The door is closing," Fatih Birol, of the International Energy Agency, said. "If we dont change direction now on how we use energy, we will end up beyond what scientists tell us is the minimum (for safety). The door will be closed forever."
10 November 2011, Natural Gas Vehicles Global News
According to the IEA 2011 World Energy Outlook, we have just five more years to shift global energy policy enough to avoid locking in high levels of warming as well. Fatih Birol, the IEAs chief economist, put it this way: "As each year passes without clear signals to drive investment in clean energy, the lock-in of high-carbon infrastructure is making it harder and more expensive to meet our energy security and climate goals." Theres a price to delaying action on climate and energy policy—which is exactly what were doing. The longer we delay, the worse it will get—and the harder it will be to save ourselves. Theres plenty more worth reading in the IEA report—check out the executive summary here (PDF)—especially on the declining role of nuclear post-Fukushima, and the global rise of gas. But at least remember the takeaway: act now or never on energy and climate.
10 November 2011, Emirates 24/7, United Arab Emirates
The International Energy Agency (IEA), which issued yesterday World Energy Outlook 2011, predicts a sharp rise in world oil prices. According to Agency’s findings, temporary stress on the oil markets may weaken because of slower economic growth and the expected return of Libyan oil to the market, but the dynamics of supply and demand continues to exert strong influence on prices. "According to our assumptions, in scenarios of new strategies the average price of imported crude oil for the IEA countries will remain high, approaching to $120 per barrel in 2035 (at the rate of US dollar in 2010), i.e. more than $210 per barrel in nominal terms, although in practice the price volatility is likely to continue," it was reported.
10 November 2011, Balkans Business News
Delaying expected oil and gas investment in the Middle-East and North Africa by just a third would push prices to $150 a barrel, the International Energy Agency (IEA) warned Wednesday. In its annual energy outlook, the IEA warns that “if between 2011 and 2015, investment in the MENA region runs one-third lower than the $100 billion a year required, consumers could face a near-term rise in the oil price to $150” a barrel. That is because increased production in the Middle East and North Africa will cover more than 90 percent of the extra barrels needed worldwide through 2035.
10 November 2011, Hindustan Times, India
The International Energy Agency stressed in its annual World Energy Outlook report released last week that while Russia will remain crucial to the international energy market, its domestic inefficiencies are enormous. Russia wastes almost one-third of the energy that it uses — an amount similar to that consumed by Britain every year, the report said. Potential yearly savings of natural gas alone, about 180 billion cubic meters, are equivalent to Gazproms entire annual export volumes.
10 November 2011, Time Magazine
By the time your kindergartener is off to college and maybe even graduating, China will consume enough oil equivalent energy as the United States and European Union…combined. In fact, according to the International Energy Agency’s World Energy Outlook, published Nov. 9, China will consume more energy than India, Brazil and the EU. Over the next 25 years, 90% of the projected growth in global energy demand comes from non-OECD economies. China alone accounts for more than 30%, consolidating its position as the world’s largest energy consumer. In 2035, China consumes nearly 70% more energy than the U.S., which will be the second-largest consumer, even though by then per-capita energy consumption in China will still be less than half the level in the U.S.