2 December 2008, Energy Tribune
On November 12, the I.E.A. released its World Energy Outlook, and the second page of the agencys briefing slides show that coal is gaining - not losing - market share. Between 2000 and 2007, global coal use increased by 4.8 percent. Thats three times the growth rate seen in oil consumption (which grew by 1.6 percent) and nearly twice the rate in natural gas use (which climbed by 2.6 percent.)
26 November 2008, This Day, Nigeria
Nigeria and Angola will be the highest earning oil-producing countries in a pack of 10 within the sub-saharan African region between 2006 and 2030, says the International Energy Agency (IEA). In a report entitled "World Energy Outlook 2008", presented at the Center for Strategic Studies (CSIS) in Washington, D.C. by the organisations Chief Economist, Dr Faith Birol, Nigeria and Angola will account for 86 per cent of the $4.1 trillion cumulative revenues of all 10 countries over 2006-2030.
25 November 2008, Forbes.com
Second, the International Energy Agency released its ever-popular annual World Energy Outlook. Using a modest 1.6% annual energy demand assumption through 2030, the world will need 45% more energy. Assuming some conservation, new energy alternatives and a mere $26 trillion in capital investments, daily oil production would need to rise 25%. This is the equivalent of four Saudi Arabias going into production between now and 2030.
21 November 2008, Arab News, Saudi Arabia
In its recently released World Energy Outlook, the OECD energy watchdog IEA underlines that more than a trillion dollars in annual investments is needed to find new fossil fuels over the next two decades to avoid the impending energy crisis that could easily choke the global economy.
19 November 2008, Reuters
Like a hamster trapped on a wheel, the International Energy Agency (IEA)s 2008 World Energy Outlook (WEO) paints a depressing picture of an oil industry having to run faster and faster just to keep pace with burgeoning oil demand over the next 20 years. WEO2008 estimates the industry will need to find 64 million barrels per day (bpd) of new oil production capacity to meet the expected growth in demand by 21 million bpd by 2030 and offset 43 million bpd of expected declines from existing fields. The total cost is put at around $5 trillion at todays prices.
19 November 2008, China Daily
Chinas oil imports will account for almost 75 percent of its total oil consumption by 2030, according to the International Energy Agency (IEA). The Paris-based adviser to 28 oil-consuming nations also predicted that primary world energy demand would grow by 1.6 percent annually between 2006 and 2030 with a total increase of 45 percent. China and India are expected to account for over half of incremental energy demand by 2030.
19 November 2008, Khaleej Times, United Arab Emirates
The Paris-based energy adviser to the 30 industrialised countries of the OECD, the International Energy Agency, cut its demand forecast for the third month in a row and is basically saying there will be very little if any growth in oil demand for 2009. This is not entirely surprising since the OECD itself is forecasting a slight contraction for its 30 members next year. This is a big change from their June forecast of 1.7 per cent growth.
19 November 2008, The Economic Times, India
According to a China Daily report, China and India are expected to account for over half of incremental energy demand by 2030, the IEA says, adding that China will account for almost 75 per cent of global total oil consumption. The Paris-based adviser to 28 oil-consuming nations also predicted that primary world energy demand would grow by 1.6 per cent annually between 2006 and 2030 with a total increase of 45 per cent.
18 November 2008, Dowjones Business News
Speaking at a conference in Oslo, the IEAs Fatih Birol said expectations the Organization of Petroleum Exporting Countries will produce an ever increasing share of global oil makes "every drop of oil we can get from Norway very, very important," in retaining a diverse energy mix. Birol said the IEAs analysis of the worlds 800 largest fields, representing two third of both existing reserves and current production, didnt give "a very optimistic message." "Non conventional oil will increase, mainly from Canada. But non-OPEC production is in difficulty. The share of OPEC production will in future be a bigger share of the total," Birol added. Strong growth in world demand coupled with a sharp decline in existing fields are the two factors will underpin a need for more oil by 2030 than today, Birol said. Output needs to rise by 64 million barrels a day by 2030 to meet demand growth and offset decline, he said. Thats equivalent to six times Saudi Arabias capacity, or 27 times Norways.
18 November 2008, CCTV
The International Energy Agency warned in its last report that the current investment decline in the energy sector as a result of the global credit squeeze could push oil prices to a new high in the long run. And that could further slow the eventual economic recovery. Affected by weakening demand, international oil prices plunged from a record 147 US dollars in July to 55 US dollars on Monday. But the IEA says the slump wont last long. In its latest report on the World Energy Outlook, the IEA predicts oil prices could rebound and top 200 US dollars a barrel by 2030 as supplies grow tight again when world energy demand picks back up.