• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 12 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 11 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 12 hours The Quick Read On MBS's Tour of Pakistan, India And China
  • 12 hours Iran Starts Gulf War Games, To Test Submarine-Launched Missiles
  • 11 hours BMW to add 2,000 more jobs at Dingolfing plant
  • 10 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 14 hours Saudi A to Splash $100 Bln on India
  • 1 day Itt looks like natural gas may be at its lowest price ever.
  • 13 hours Venezuela: Nicolas Maduro closes border with Brazil
  • 7 hours Washington Eyes Crackdown On OPEC
  • 1 day Amazon’s Exit Could Scare Off Tech Companies From New York
  • 22 hours NEW FERUKA REFINERY
  • 9 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
Is This The Tipping Point For Electric Vehicles?

Is This The Tipping Point For Electric Vehicles?

A new report suggests that…

An Underestimated Niche In Oil & Gas

An Underestimated Niche In Oil & Gas

Decommissioning obligations in the global…

IEA: Renewables to Become the Second Largest Energy Source in the World by 2015

The International Energy Agency (IEA) has just launched its 2012 edition of its World Energy Outlook, in which it has stated that energy around the globe is changing “in a dramatic fashion.”

The US’s drive to increase oil and natural gas production is the main topic of the report, but the IEA also wrote that renewable energy will become the second largest source of power generation in the world by 2015, and that by 2035 it could overtake coal to become the primary source.

They noted that these estimates will only be achieved if current subsidies continue. According to the IEA, a total of $4.8 trillion must be provided as subsidies for renewable projects. Whilst this amount may seem to be vast, over half has already been committed to existing projects, or needs to be invested in order to meet the targets already set for 2020.

Relevant Article: Rossi's Investors Talk about the Progress of his E-Cat

 Greenpeace has also released its Greenpeace Energy Revolution 2012 report, in which it believes that the IEA report is too lenient. Sven Teske, a campaigner with Greenpeace International, said that “renewable energy must grow to 65% of electricity production and energy efficiency must increase by 2035 to reduce the impact of climate change. Otherwise, based on this forecast, the world is still headed for a catastrophic temperature increase of 4 to 6 degrees Celsius.”

The IEA reported that by 2035: “Global electricity consumption would grow by 15,000TWh with 7000TWh covered by renewables. 3400TWh of wind and solar powered generation would be added, more than the entire electricity consumption of the European Union.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News