Biotech Updates

International Energy Agency (IEA) Releases World Energy Outlook 2008

November 21, 2008

http://www.iea.org/weo/docs/weo2008/fact_sheets_08.pdf
http://seekingalpha.com/article/105842-the-iea-annual-report-a-dire-picture-of-energy-supply-and-demand?source=feed
http://www.iea.org/weo/docs/weo2008/fact_sheets_08.pdf


The annual World Energy Outlook (WEO) report of the International Energy Agency (IEA) is said to be “the world’s most authoritative source of global energy trends.”  The 2008 edition provides a full update of energy projections to 2030, as well as a comprehensive analysis on climate change scenarios after 2012, oil/gas supply prospects and “energy poverty in resource rich Sub-Saharan African countries. Among the highlights in global trends (as mentioned in the WEO 2008 Fact Sheet) (URL above) are: (1) There will be a slow growth in energy use till 2030, with a “persistent dominance of fossil fuels”, and continued rise in carbon dioxide emissions. (2) World energy demand expansion between 2006 to 2030 is about 45% with an average rate of growth of 1.6% per year, under a “Reference Scenario” of no new government policies beyond those already adopted by mid-2008. (3) More than 50% of incremental global energy demand to 2030 will be from China and India; the Middle East will become an emerging energy demand center, comprising about 11% of incremental global energy demand. (4) Energy related emissions of carbon dioxide and other greenhouse gases “will inexorably rise, pushing up the average global temperature by 6oC in the long term” and,  5) Modern renewable energy technologies will be the second major source of electricity, next to coal after 2010. More information about the WEO 2008 can be obtained at the IEA website (URL above)..