Sep 19: The U.S. Energy Information Administration (EIA) released its 301-page International Energy Outlook 2011 (IEO2011) which presents updated projections for world energy markets through 2035. The IEO2011 Reference case projection does not incorporate prospective legislation or policies that might affect energy markets. According to the analysis world marketed energy consumption grows by 53 percent from 2008 to 2035. Total world energy use rises from 505 quadrillion British thermal units (Btu) in 2008 to 619 quadrillion Btu in 2020 and 770 quadrillion Btu in 2035. Much of the growth in energy consumption occurs in countries outside the Organization for Economic Cooperation and Development (non-OECD nations) where demand is driven by strong long-term economic growth. Energy use in non-OECD nations increases by 85 percent in the Reference case, as compared with an increase of 18 percent for the OECD economies. Strong economic growth leads China and India to more than double their combined energy demand by 2035, accounting for one-half of the world's energy growth according to EIA's recently released International Energy Outlook 2011 (IEO2011). The IEO2011 projects that China and India together will consume 31% of the world's energy in 2035, up from 21% in 2008. China, which surpassed the United States as the world's largest energy consumer in 2009, is the predominant driver of growing energy demand. By 2035, China's projected energy consumption is 68% higher than U.S. energy consumption. Global energy consumption grows 53% between 2008 and 2035, representing an average annual growth rate of 1.6%. Energy growth varies greatly between developed and developing countries. Energy demand in Organization for Economic Cooperation and Development (OECD) and non-OECD nations, which was nearly the same in 2007, diverges sharply in the projection as non-OECD growth further accelerates, averaging 2.3% per year compared to only 0.6% per year for OECD nations. At this rate, non-OECD nations account for 83% of global growth and consume 67% more energy than OECD nations by 2035, although their energy consumption is still far lower on a per capita basis. Additional IEO2011 highlights include: Renewable energy is projected to be the fastest growing source of primary energy over the next 25 years, but fossil fuels remain the dominant source of energy. Renewable energy consumption increases by 2.8 percent per year and the renewable share of total energy use increases from 10 percent in 2008 to 15 percent in 2035 in the Reference case. Fossil fuels, however, continue to supply much of the energy used worldwide throughout the projection, and still account for 78 percent of world energy use in 2035 While the Reference case projections reflect current laws and policies as of the start of 2011, past experience suggests that renewable energy deployment is often significantly affected by policy changes. World oil prices remain high in the IEO2011 Reference case, but oil consumption continues to grow; both conventional and unconventional liquid supplies are used to meet rising demand. In the IEO2011 Reference case the price of light sweet crude oil (in real 2009 dollars) remains high, reaching $125 per barrel in 2035. Total world petroleum and other liquids fuel use increases by 26.9 million barrels per day between 2008 and 2035, but the growth in conventional crude oil production is less than half this amount at 11.5 million barrels per day, while production of natural gas plant liquids increase by 5.1 million barrels per day, World production of unconventional resources (including biofuels, oil sands, extra-heavy oil, coal-to-liquids, and gas-to-liquids), which totaled 3.9 million barrels per day in 2008, increases to 13.1 million barrels per day in 2035. Natural gas has the fastest growth rate among the fossil fuels over the 2008 to 2035 projection period. World natural gas consumption increases 1.6 percent per year, from 111 trillion cubic feet in 2008 to 169 trillion cubic feet in 2035. Unconventional natural gas (tight gas, shale gas, and coalbed methane) supplies increase substantially in the IEO2011 Reference case — especially from the United States, but also from Canada and China. Other report highlights include: From 2008 to 2035, total world energy consumption rises by an average annual 1.6 percent in the IEO2011 Reference case. Strong economic growth among the non-OECD (Organization for Economic Cooperation and Development) nations drives the increase. Non-OECD energy use increases by 2.3 percent per year; in the OECD countries energy use grows by only 0.6 percent per year. Petroleum and other liquid fuels remain the largest energy source worldwide through 2035, though projected higher oil prices erode their share of total energy use from 34 percent in 2008 to 29 percent in 2035. Projected petroleum consumption and prices are very sensitive to both supply and demand conditions. Higher economic growth in developing countries coupled with reduced supply from key exporting countries result in a High Oil Price case in which real oil prices exceed $169 per barrel by 2020 and approach $200 per barrel by 2035. Conversely, lower economic growth in developing countries coupled with increased supplies from key exporting countries result in a Low Oil Price case in which real oil prices fall to about $55 per barrel in 2015 and then gradually decline to $50 per barrel after 2030 where they remain through 2035. World coal consumption increases from 139 quadrillion Btu in 2008 to 209 quadrillion Btu in 2035, at an average annual rate of 1.5 percent in the IEO2011 Reference case. In the absence of policies or legislation that would limit the growth of coal use, China and, to a lesser extent, India and the other nations of non-OECD Asia consume coal in place of more expensive fuels. China alone accounts for 76 percent of the projected net increase in world coal use, and India and the rest of non-OECD Asia account for another 19 percent of the increase. Electricity is the world's fastest-growing form of end-use energy consumption in the Reference case, as it has been for the past several decades. Net electricity generation worldwide rises by 2.3 percent per year on average from 2008 to 2035. Renewables are the fastest growing source of new electricity generation, increasing by 3.0 percent and outpacing the average annual increases for natural gas (2.6 percent), nuclear power (2.4 percent), and coal (1.9 percent). The transportation sector accounted for 27 percent of total world delivered energy consumption in 2008, and transportation energy use increases by 1.4 percent per year from 2008 to 2035. The transportation share of world total liquids consumption increases from 54 percent in 2008 to 60 percent in 2035 in the IEO2011 Reference case, accounting for 82 percent of the total increase in world liquids consumption In the IEO2011 Reference case, energy-related carbon dioxide emissions rise from 30.2 billion metric tons in 2008 to 43.2 billion metric tons in 2035 — an increase of 43 percent. Much of the increase in carbon dioxide emissions is projected to occur among the developing nations of the world, especially in Asia. Access a release from EIA (click here). Access the complete 301-page report (click here). Access an overview with links to 10 separate presentations and more information (click here). Access a summary of the China-India projections (click here). [#Energy] Hearings & Comments On Air Rules For Oil & Gas Drilling Operations UN Chief Calls For Greater Commitment To Address Climate Change 25% Of New 2010 Homes Were Energy Star Compliant DOE Secretary Addresses International Atomic Energy Agency Industrial Giant Siemens Exits Nuclear Energy Business Worldwide EPA Launches Green Products Web PortalGET THE REST OF TODAY'S NEWS (click here) Waste Information & Management Services, Inc. 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