Energy Demand to Soar in 25 Years - UPI.com
The International Energy Agency is anticipating an increase of 36 percent in energy demand over the next 25 years, pushed largely by growing demand in China, a net importer of fossil fuels.
Online, November 9, 2010 (Newswire.com) - PARIS, (UPI) -- A widely respected energy research agency said Tuesday that global energy demand would grow by a third by 2035.
The International Energy Agency said energy demand would surge 36 percent in the next 25 years, pushed largely by growing demand in China, an importer of fossil fuels, The New York Times reported.
"It is hard to overstate the growing importance of China in global energy markets. The country's growing need to import fossil fuels to meet its rising domestic demand will have an increasingly large impact on international markets," the agency said in its annual World Energy Outlook report.
China's own demand for energy is expected to increase 75 percent by 2035.
China now represents 17 percent of the world's energy demand. By 2035, that will increase to 22 percent, the report said.
The IEA also said the price of oil would just about double from close to $60 per barrel in 2009 to $113 per barrel in 2035.
Despite a push towards wind, solar and other renewable energy sources, the world would continue to rely on oil, coal and natural gas for most of its energy needs, IEA said.
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Tags: Alternative engergy, China, energy demand, Fossil Fuels, International Energy Agency, oil, price of oil, World Energy Outlook report
