FOSSIL FUELS DOMINATE GLOBAL ENERGY SUPPLIES

FOR IMMEDIATE RELEASE

MEDIA CONTACT: BENJAMIN COLE

202.621.2957

FOSSIL FUELS DOMINATE GLOBAL ENERGY SUPPLIES
IER Analysts Break Down Recent Report on International Energy Trends

Last week, the Energy Information Administration (EIA) released the much-anticipated 2013 International Energy Outlook, which projected increased use of oil, natural gas, and coal as the world's dominant energy source. IER analysts spent the weekend digging into the results of EIA's report to examine the global trends in energy production and consumption. Highlights of the report include:

• Oil, natural gas, and coal will comprise almost 80 percent of the global energy supply in 2040.
• While coal demand in the United States declines due to cheap natural gas and biased regulatory activities, coal's worldwide share holds steady at 27 percent in 2040.
• Energy demand will grow by 56 percent between 2010 and 2040, with most of the growth coming from developing countries such as China and India.
• Electricity generation from nuclear power will more than double by 2040 as many developing countries look to this zero-emission fuel source to meet growing energy demands.
• Carbon dioxide emissions are projected to increase by 46 percent over the same period, with nearly 70 percent of the increase coming from developing Asian countries
• Hydropower will drive rapid growth in electricity from renewables over the next three decades, accounting for 52 percent of new renewable generation.
• Wind will comprise 28 percent of renewable generation added over the projection period, though the intermittency of wind energy will continue to hinder its competitiveness worldwide.
• Non-OPEC oil supply growth will drive production increases to 28.3 million barrels per day as countries like the United States, Brazil and Canada ramp up production in unconventional fields, thus forcing OPEC to increase production to maintain its share.

According to EIA, economic expansion in developing countries will drive additional energy demand over the next three decades. While nuclear and renewable energy are projected to be the fasting growing sources of supply worldwide, fossil fuels are still expected to supply almost 80 percent of that demand in 2040. It is clear from EIA’s assessment of the world energy picture that nations will use increasing amounts of energy of all kinds, but especially those from reliable and affordable fossil energy sources, for decades to come.

To read IER's breakdown of the International Energy Outlook, click here.
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For media inquiries, please contact Benjamin Cole
bcole@iedrdc.org
202.621.2957