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PROGNOSIS * China - In Global Forecast, China Looms Large as Energy User and Maker of Green Power
The report concluded: “The center of gravity of global energy demand growth now lies in the developing world, especially in China and India”
(Photo from Agence France-Presse / Getty Images - A traffic jam in Beijing. Over the last decade, the demand for energy in China has doubled)New York,NY,USA -The New York Times, by CLIFFORD KRAUSS / Julia Werdigier / Elisabeth Rosenthal -November 9, 2010: -- China’s push for rapid economic development will dominate global energy markets and be the single biggest force in spurring higher oil prices and carbon emissions linked to climate change over the next quarter-century, the International Energy Agency reported on Tuesday... With China and its 1.3 billion people as a primary engine, the energy agency predicted that world energy demand should grow by more than a third over the next 25 years, as new oil supplies became harder to find... It also predicted that oil prices would rise to $113 a barrel in 2035, in current dollars, a rise of nearly $30... Beijing’s ability to lift hundreds of millions of people into the middle class over the coming years will be largely based on its ability to produce more energy, and its foreign policies can also be expected to follow its energy interests, energy experts say... On Monday, the German automaker Volkswagen announced plans to build 10,000 electric cars in China starting in 2014. In addition, Nissan Motor, General Motors and Daimler are planning to build electric vehicles in China, which offers subsidies to buyers of such cars to cut oil consumption... The report offered many predictions about demand and supply of various fuels around the world, but it also concluded that there were many uncertainties. It wondered whether carbon capture and storage technology would ever become commercially available to clean increasing coal-fired electricity generation. It wondered whether biofuels production from crops like corn could be sustainable for food supplies...
Labels: 'green' prognosis, fuel cost prognosis
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