Over the next three decades, world energy consumption is projected to increase by 56 percent, driven by growth in the developing world, according to International Energy Outlook 2013 (IEO2013), released in July by the U.S. Energy Information Administration (EIA).
“Rising prosperity in China and India is a major factor in the outlook for global energy demand. These two countries combined account for half the world’s total increase in energy use through 2040,” said EIA Administrator Adam Sieminski. “This will have a profound effect on the development of world energy markets,” said Mr. Sieminski. Clean-fuel technology is also playing an important role in the outlook, with renewable energy and nuclear power expected to grow faster than fossil fuels over the forecast period.
IEO2013 presents updated projections for world energy markets through 2040. Visit the EIA website to read highlights from the report.