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Oil - Netherlands - Agency sees world demand climbing
THE HAGUE, Netherlands - Associated Press ANTHONY DEUTSCH Nov. 07, 2005: -- Global energy needs will surge 50 percent by 2030 and prices will rise if capacity is not significantly increased, the International Energy Agency said Monday in its 2005 World Energy Outlook... There are sufficient oil and natural gas reserves to meet those needs, particularly in North Africa and the Middle East, but about 17 euros trillion ($20 trillion) in new investments is urgently needed to bring those supplies to the consumer market, the agency said... New energy sources will increasingly be needed to meet demand in growing economies like China and India... Energy-related carbon dioxide emissions will also climb, by 52 percent in the same period, the Paris-based agency predicted... The agency also published an alternative energy scenario, based on the impact of proposed policies, outlined in an action plan endorsed by the G-8 Summit of industrialized countries in July... If countries implement those more environment-friendly policies, energy demand and carbon-dioxide emissions would be significantly lower, with overall global energy demand expanding 10 percent less than the business-as-usual scenario... Demand for coal would then be a sharp 25 percent lower, while oil and gas export revenues in the Middle East and North Africa would fall by 21 percent. Renewable energy sources, such as hydro and solar, are then seen growing 27 percent with 16 percent lower carbon dioxide emissions...
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