The International Energy Agency has just published the World Energy Outlook in which it makes it clear that only a massive and immediate investment in sustainable energy will prevent a global crisis. IEA Press Release
It's an unusually pessimistic view from an agency that has long said oil production could meet rising energy needs. But they now believe the explosive growth of China and India means we must move swiftly, boldly and decisively beyond fossil fuels if we are to avert a crisis.
The current projections are that oil will continue to dominate the picture as daily demand rises from 85 million barrels today to 116 million in 2030. But oil industry executives believe the industry is going to have a hard time producing even 100 million barrels a day.
The IEA concludes we can't rule out any of the options for moving the global energy system onto a more sustainable path.
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