The Energy Information Administration released new estimates on world energy consumption. Between 2006 and 2030, consumption is projected to increase by 44%. Their reference case assumes oil at $110 barrel in 2015 and $130 barrel in 2013. (Mmm. I thought we hit peak oil in Spring 2008. I assert those prices are way, way, low unless we stay in this economic winter until 2030.)
Worldwide energy consumption will increase from 175 quadrillion BTU in 2006 to 246 quadrillion BTU. 94% of the growth will occur in the emerging and developing economies. Greenhouse gases will only increase by 39% due to 'greener' technologies. Below I show the projected increase in energy by fuel type.
From International Energy Outlook by the Energy Information Administration
Note that the slope is greater for fossil fuels (particularly coal) than either nuclear or renewables. Secretary Chu joins with world leaders explains the G8 - Canada, France, Germany, Italy, Japan, the Russian Federation, the United Kingdom, and the United States have formed the International Partnership for Energy Efficiency Cooperation (IPEEC). "This partnership can help lead the world toward greater energy efficiency," Secretary Chu said. "It will facilitate greater cooperation on our shared goals: a healthier planet and a stronger global economy."
An additional report just released tells that U.S. civilian nuclear power stations purchased 53 million pounds of uranium at an average price of $45.88 per pound during 2008. The discouraging news is that only 14% was domestic production - the other 86% was purchased from foreign countries including Russia, Brazil, Australia, and Canada.
The graph above shows we have to either: a) develop a new source of energy, or b) find a way to economically implement carbon capture. Neither are easy.
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