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IEA Believes 20% Energy Savings Possible by 2035

The report outlines a "transformational shift" in the global energy landscape, expansion of energy availability to satisfy demand, and subdued expectations about achievable energy savings.

According to the IEA, energy savings will be just important in energy supply as traditional supply. By 2035, energy savings can amount to about 20 percent of the energy consumption in 2010, the organization said. "In other words, energy efficiency is just as important as unconstrained energy supply, and increased action on efficiency can serve as a unifying energy policy that brings multiple benefits," the organization stated.

Among the data published are the following forecasts:

- The U.S. will be a net exporter of natural gas by 2020 and will be almost self-sufficient in energy by 2035
- Almost 90 percent of oil resources provided by the Middle east will go to Asia by 2035
- Global oil demand will be more than 99 million barrels per day by 2035, up from 1.7 million barrels per day in 2010
- The oil price will hit $215 (nominal) per barrel in 2035
- Iraq will be surpassing Russia as the world's second largest oil exporter in 2035, and account for 45 percent of the growth in global oil production
- Demand for natural gas will grow by 50 percent to 5 trillion cubic meters in 2035, and global coal demand will increase by 21 percent with a focus on China and India
- Renewable energies will be the world’s second-largest source of power generation by 2015 and close in on coal as the primary source by 2035
- $4.8 trillion in subsidies for renewables will be required until 2035
- 15 percent of the world's available water is tied up in energy production; by 2035 that amount will increase by 85 percent due to the usage in greater power production and biofuels

"Our analysis shows that in the absence of a concerted policy push, two-thirds of the economically viable potential to improve energy efficiency will remain unrealized through to 2035," said Fatih Birol, IEA Chief Economist and the WEO’s lead author. "Action to improve energy efficiency could delay the complete ‘lock-in’ of the allowable emissions of carbon dioxide under a 2oC trajectory, which is currently set to happen in 2017, until 2022, buying time to secure a much-needed global climate agreement. It would also bring substantial energy security and economic benefits, including cutting fuel bills by 20% on average."

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  • edogawa
    "Global oil demand will be more than 99 million barrels per day by 2035, up from 1.7 million barrels per day in 2010."

    My god, that's a lot of oil each day.
    Reply
  • Cazalan
    http://omrpublic.iea.org/

    This site says we're already consuming 90 million barrels per day in 2013.

    Reply
  • A Bad Day
    Seems a bit optimistic. When there were news that US Congress was toying with the idea of restricting the sales of "energy-inefficient" bulbs (aka incandescent bulbs), there was a massive increase in sales of the bulbs because people were hoarding them in fears of the sale of the bulbs being banned.
    Reply
  • Cazalan
    And no mention of geothermal which is nearly limitless supply, but costly.
    Reply
  • A Bad Day
    EDIT: If you also check the comment sections of the online news article, you'll notice an usually large amount of anti-LED/Fluorescent light bulbs.

    Also, when my dad purchased a house, the contractor used only incandescent bulbs to save construction costs. Then when a few of the bulbs burnt out, my dad bought more incandescent bulbs because the fluorescent and LED bulbs were "too expensive".
    Reply
  • A Bad Day
    CazalanAnd no mention of geothermal which is nearly limitless supply, but costly.
    We humans are quite susceptible to "false economy". Look up Chainsaw Al; that's the nickname of a former CEO of Sunbeam who initially boosted profits of the struggling company in the late 1990's, then drove it into the ground.
    Reply
  • CKKwan
    Where is the fusion technology (ITER) that promissed in 2025?
    Reply
  • And yet they don't mention Canada since were starting tons of new Energy things. Oh well sometimes I forget we don't exist.
    Reply
  • mikenygmail
    "15 percent of the world's available water is tied up in energy production; by 2035 that amount will increase by 85 percent due to the usage in greater power production and biofuels"

    85 + 15 = 100% of the world's available water will be tied up in energy production?
    Exactly what is meant by "world's available water?"
    Reply
  • mikenygmail
    goodman854And yet they don't mention Canada since were starting tons of new Energy things. Oh well sometimes I forget we don't exist.
    Well your typing is already fading away, so be careful what you wish for...
    Reply