World Energy Use to Rise 56% by 2040
Jul 25th 2013 4:52PM
Updated Jul 25th 2013 4:56PM
World energy use is expected to increase 56% between 2010 and 2040, according to the Energy Information Administration's (EIA) newly released International Energy Outlook 2013.
In a shift from the status quo, demand over the next three decades will overwhelmingly originate from developing and emerging economies. Non-OECD countries are expected to increase energy consumption by 90%, compared to just 17% for OECD countries. Worldwide, industries are expected to continue to consume more than half of total energy demanded.
The EIA made sure to note in its latest report that the recovery from the 2008-2009 global recession introduces a large measure of uncertainty into any long-term predictions. World energy markets are highly dependent on the overall economy, and vice versa. The Administration specifically notes debt issues in the U.S. and Europe, as well as China and India's recent slowing in GDP growth.
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