World Energy Outlook 2011

Today’s release of the IEA’s annual World Energy Outlook in London has again confirmed the end of cheap oil blaming growing energy demand and declining oil reserves. According the Report, oil demand will rise 14% between 2010 and 2035, from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035. All net increases in oil demand will come entirely from the transportation sector in emerging economies as economic growth pushes up demand for personal mobility and freight goods.

Source: International Energy Agency, 9 November 2011

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