9 November 2011, Wall Street Journal
Coal use will overtake oil as the largest fuel in the global energy mix by 2035, said the International Energy Agency (IEA) in London. In the newly published World Energy Outlook 2011, the IEA believed coal has met almost half of the increase in global energy demand over the last decade. Whether this trend alters and how quickly is among the most important questions for the future of the global energy economy. "Maintaining current policies would see coal use rise by a further 65 percent by 2035, overtaking oil as the largest fuel in the global energy mix," the outlook report said. "The main market for traded coal continues to shift from the Atlantic to the Pacific, but the scale and direction of international trade flows are highly uncertain, particularly after 2020.
9 November 2011, Washington Post
The world will lock itself into an “insecure, inefficient and high-carbon energy system” if it does not adopt a “bold change of policy directions”, the International Energy Agency has warned. The western countries’ energy watchdog said governments needed to introduce “stronger measures to drive investment in efficient and low-carbon technologies,” as it launched its flagship publication, the 2011 World Energy Outlook. “The global energy demand will grow very strongly,” Dr Birol said, adding that decisions on new energy will be made in emerging market capitals such as Beijing. China will consolidate its position as the world’s largest energy consumer and is expected to consume almost 70 per cent more energy than the US by 2035. Read the full article on the FT site (registration required).
9 November 2011, The Times of India
Abolishing fossil fuel subsidies would boost the worlds economy, environment and energy security, the International Energy Agency said on Tuesday, referring to a pledge made by G20 countries. "Eradicating subsidies to fossil fuels would enhance energy security, reduce emissions of greenhouse gases and air pollution, and bring economic benefits," said the IEA in its annual set-piece World Energy Outlook. The report estimated such subsidies at $312 billion in 2009, mostly in developing countries, compared with $57 billion in subsidies for renewable energy. Fossil fuel subsidies were on course to reach $600 billion by 2015, and renewables subsidies more than $100 billion, said Fatih Birol, IEA chief economist. Eliminating fossil fuel consumption subsidies by 2020 would cut global energy demand by 5 percent, compared with no action, and reduce carbon emissions by nearly 6 percent by then, said the IEA report.
9 November 2011, Guardian
The International Energy Agency says dependence on fossil fuels will increase if countries move away from nuclear in the aftermath of Fukushima Daiichi. By 2035, the world’s energy demand will increase by 40% over 2009, reaching 16,961 Mtoe, led by non-OECD countries such as China. Oil demand will increase due to greater demand for oil in the transport sector, and the price of oil is expected to reach $120 by 2035. Electricity demand will also increase at a high rate, and renewables, with help from government support, will play a major role in the power sector, making up 15% of total power generation. Nuclear will continue to play an important role despite recent policy changes in Germany and Switzerland. The Low Nuclear Case demonstrates that decrease in nuclear’s share in the energy mix means higher fossil fuel prices and GHG emissions. CO2 emissions continue their upward trend, and are expected to reach 36.4 Gt in 2035. Without further action, reaching the 2 degree Celsius climate target will be impossible.
9 November 2011, Xinhua News Agency
The price of oil could rise to as much as $150 per barrel in the near term if investment in the oil-producing countries of North Africa and the Middle East is lower than required to meet growth in demand from emerging economies, the International Energy Agency said on Wednesday. "Growth, prosperity and rising population will inevitably push up energy needs over the coming decades. But we cannot continue to rely on insecure and environmentally unsustainable uses of energy," IEA Executive Director Maria van der Hoeven said in said the organization’s 2011 edition of the World Energy Outlook. Under the report’s central scenario, energy demand will increase by one-third between 2010 and 2035, with 90 percent of the growth in non-OECD economies. China will consume nearly 70 percent more energy than the United States by 2035, the report said, even though, by then, per capita demand in China will still be less than half the level in the United States.
9 November 2011, Financial Times
The International Energy Agency today launched the 2011 World Energy Outlook. It forecasts nuclear power generation growth of 70% in 2035 compared to 2010 as emerging economies such as China and India maintain policies that promote nuclear energy following the Fukushima Daiichi accident. The report analyses a case in which growth in nuclear power is much slower than expected in its central scenario, and the energy security consequences of such a future. IEA Chief Economist Dr Fatih Birol said in an interview with Nihon Keizai Shimbun “there is a huge impact on Japanese industries which have developed with cheap nuclear energy”, and that if Japan were to follow a low nuclear scenario, “Japan’s ambitious plan to reduce greenhouse gases becomes difficult”.
9 November 2011, Reuters
Nuclear energy remains vital to cope with rising energy demand, mainly in emerging economies, fight global warming and avert increased damage to the environment, the IEA warned on Wednesday. A pullback from nuclear production, amid a rise in demand for energy, was likely to drive countries towards increased use of coal and gas, and therefore to generating extra carbon pollution with a devastating effect on the environment. The energy independence of nuclear-power producing countries would also be in danger because their sources of supply would be reduced, the International Energy Agency said in its annual World Energy Outlook.
9 November 2011, Yonhap, Korea
The International Energy Agency released its 2011 World Energy Outlook in London on 9 November. The report says the crude oil price in 2035 could reach $247 per barrel, triple the level in 2010, in its Current Policies Scenario, which takes account only of those policies that had been enacted by mid-2011. The outlook also presents a ‘Low Nuclear Case’ based on slower world growth in nuclear power after the accident at the Fukushima Daiichi nuclear power station in March 2011. It warns that such a case would make it more challenging for emerging economies to satisfy their rapidly growing demand for electricity.
9 November 2011, CNBC
Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system, the International Energy Agency warned as it launched the 2011 edition of the World Energy Outlook 2011 (WEO). The agency’s flagship publication, released today in London, said there is still time to act, but the window of opportunity is closing. "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," said Fatih Birol, IEA Chief Economist.
9 November 2011, Nihon Keizai Shimbun, Japan
The European Union is expected to overtake the United States as the world’s biggest oil importer in 2015, the International Energy Agency said Wednesday in its annual report. Oil imports to the United States are expected to decline significantly over the coming years because of new efficiency standards for cars and trucks and an increase in domestic oil and natural gas production, said Fatih Birol, chief economist of the agency. By 2020, China should overtake the European Union to become the world’s biggest importer of oil, according to the Paris-based agency, which acts as a policy adviser to governments. "The U.S. would be less and less vulnerable to oil price shocks," Mr. Birol said at a news conference in London. "But increasing reliance on oil imports elsewhere heightens concerns about the cost of imports and supply security."