The global energy map is changing in dramatic fashion and will recast expectations about the role of different countries, regions and fuels in the global energy system over the coming decades. The United States becomes a net exporter of natural gas by 2020 and is almost self-sufficient in energy, in net terms, by 2035. North America emerges as a net oil exporter.
Fossil fuels will remain dominant in the global energy mix, supported by subsidies that, in 2011, jumped by almost 30% to $523 billion. Renewables become the world’s second-largest source of power generation by 2015 and close in on coal as the primary source by 2035. Water is essential to the production of energy, and the energy sector already accounts for 15% of the world’s total water use. The analysis shows that in the absence of a concerted policy push, two-thirds of the economically viable potential to improve energy efficiency will remain unrealised through to 2035. An Efficient World Scenario shows that energy efficiency improvements can be achieved simply by adopting measures that are justified in economic terms. Greater efforts on energy efficiency would cut the growth in global energy demand by half. Global oil demand would peak before 2020 and be almost 13 mb/d lower by 2035, a reduction equal to the current production of Russia and Norway combined.
Further details can be found on the IEA Website at World Energy Outlook 2012 .
Online Bookshop to order the full report