Thursday, 8 November 2007

End of oil

Two publications are reporting on energy security concerns today. Both Wired - The End of Oil is Upon Us. We Must Move On - Quickly. and the Financial Times - Act now to avoid an energy crunch cover the latest World Energy Outlook from the International Energy Agency.

Essentially, they say that unchecked growth in China and India will increase global oil consumption and CO2 emissions by 50% by 2030, forcing oil prices up and increasing climate change.

They conclude "The emergence of China and India as major players in global energy markets makes it all the more important that allcountries take decisive and urgent action to curb runaway energy demand...Many of the policies available to alleviate energy insecurity can also help to mitigate local pollution and climate change, and vice-versa...in many cases, those policies bring economic benefits too, by lowering energy costs – a 'triple-win' outcome."
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