The IEA's Dire Warnings on Peak Oil and the Desperate Need for Energy Innovation
Last week the International Energy Agency released its annual report (600 pages) on just where energy production and consumption in the world is going over the next 25 years.
Four or five years back, producing the annual World Energy Outlook was a rather straightforward task. All the IEA had to do was to take the world's current rate of economic growth, calculate how much oil, coal and natural gas it would take to support that growth and publish the results. There was never much consideration of whether resources would start to run out or become too expensive to exploit, or what,
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Four or five years back, producing the annual World Energy Outlook was a rather straightforward task. All the IEA had to do was to take the world's current rate of economic growth, calculate how much oil, coal and natural gas it would take to support that growth and publish the results. There was never much consideration of whether resources would start to run out or become too expensive to exploit, or what,
Read more...
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