EIA predicts world will continue to guzzle energy
According to the U.S. Energy Information Administration, growing public consciousness of the impending worldwide energy crisis is going to … well, have basically no effect at all. World energy demand will surge 71 percent between 2003 to 2030, predicted the EIA yesterday, and energy-related carbon dioxide emissions will rise a terrifying 75 percent. Oil demand will soar 37 percent, with more than half of that increase due to demand in the U.S., China, and India. But the EIA thinks oil supply will keep up as exports rise from non-OPEC countries, and oil prices will fall from current levels (to around $57 a barrel in 2030). Oil’s share of the global energy market is expected to drop slightly as coal, natural gas, and renewables rise. Still, renewables will supply a paltry 9.1 percent of the world’s energy in 2030, the EIA predicts. The forecast, which compactly captures the Bush administration worldview, assumes no major change in energy policies.