Global Challenges in Energy
Article from: OGEL 3 (2005), in Economic and Commercial Context for Oil, Gas and Energy Law
Introduction: An Increasingly Complex Industry
By 2030, the world is projected to consume two-thirds more energy than today, with developing countries replacing the industrialized world as the largest group of energy consumers. Fossil fuels, including oil, coal, and gas, will remain the dominant sources of energy, accounting for more than 90% of the projected increase in demand, according to the International Energy Agency (IEA) of Paris (2004). Owing to its relative abundance and environmentally-friendly character, natural gas will be the fastest-growing fuel, estimated to double in volume over the 2000-2030 projection ...