World Energy Outlook – A Glimpse into the Future of Energy

Dr. Fatih Birol, International Energy Agency

Provides an overview and insights into the 2010 WEO. It is suggested that recently announced policies can make a difference, but fall well short of what is needed for a secure and sustainable energy future. In respect to oil, growing demand for mobility in emerging economies is driving up use, production is shifting away from crude and oil will come from fewer producers; the view is that the age of cheap oil is over, though policy action could bring lower international prices than would otherwise be the case. Gas is seen as playing a key role in meeting the world’s energy needs and it is asked whether we may be entering a golden age for gas. It is also recognised that the stronger penetration of natural gas could have profound implications for energy markets and the environment. Although renewables are entering the mainstream, long-term support is needed to boost their competitiveness. Detailed information is provided on climate change and emission reductions, with a recognition that a lack of ambition in Copenhagen/Cancun has increased the cost of achieving the 2 degrees goal and made it less likely to happen.

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