Global energy needs will surge 50 percent by 2030 and prices will rise
The International Energy Agency said Monday that global energy needs will surge 50 percent by 2030 and prices will rise if capacity is not significantly increased.
There are sufficient oil and natural gas reserves to meet those needs, particularly in North Africa and the Middle East, but about $20.3 trillion in new investments is urgently needed to bring those supplies to the consumer market, the agency said.
New energy sources will increasingly be needed to meet demand in growing economies like China and India. Energy-related carbon dioxide emissions will also climb, by 52 percent in the same period, the Paris-based agency predicted.