• Home
  • Our Team
  • Contact Info
  • Advertise

AntAndsoNs

  • Money
  • Culture
  • Technology
  • Science
  • Sports
  • Global
  • Health Care
  • U.S.

World Energy Outlook 2016 sees broad transformations in the global energy landscape

  • by Deborah Evans
  • in Money
  • — Nov 18, 2016
Share:

Speaking at a press conference in London to mark the launch of the IEA's World Energy Outlook 2016, Dr Fatih Birol, executive director of the IEA, said the evolution in shale gas in the United States has paved the way for the breakthrough in LNG, with expected projects in the U.S. and Australia to be followed by a second stream in Mozambique, Tanzania and Canada.

"We see clear winners for the next 25 years - natural gas but especially wind and solar - replacing the champion of the previous 25 years, coal", added Birol.

The agency said a "fully fledged policy drive to decarbonise the energy system will have important consequences for future revenues of fossil-fuel companies and exporting countries".

The Paris Agreement, ratified by the European Union on 5 October and effective 4 November, has targeted a limit on global warming to below two degrees as part of an ambitious move to tackle climate change.

But he said the transportation sector is getting more efficient, and predicted that the world's private auto fleet will use less oil by 2040 than it now does, even though its total size will surge to some 2 billion vehicles.

Consumption of natural gas would increase by 50 per cent by 2040 under such a scenario, while almost 60 per cent of new power capacity would be renewables such as wind and solar, with the clean technologies becoming the largest source of electricity.

The report is the most comprehensive energy outlook published by the IEA, analyzing long-term markets for oil, natural gas, coal and clean energy. The report shows that another year of lower upstream oil investment in 2017 would create a significant risk of a shortfall in new conventional supply within a few years.

College students to protest against Trump deportation plans
Trump secured enough votes in the 538-member Electoral College to win the presidency despite trailing Clinton in the popular vote. Charlie Funk, 15, was one of several hundred students who poured out of the school doors at Roosevelt High School at 1:30 p.m.

Investment in new oil supplies a year ago was at its lowest since the 1950s.

The IEA said this was deterring oil companies from investing in new oilfields, a trend it said could turn the global oil glut into a supply shortage within years.

"Today 81% of global energy comes from fossil fuels and in 2040, even if all the pledges are implemented, this share will go down to 74%".

LNG shipments are on course to exceed the volumes of natural gas delivered by pipeline, the IEA predicts. Around 100 nations have ratified the Paris agreement, which came into force on November 4, and seeks to limit temperatures rises to well below 2 degrees Celsius above pre-industrial levels and "pursue efforts" to limit the rise in temperatures to 1.5 degrees. National emissions cuts pledged in the Paris agreement will limit the rise in global temperatures to an average of 2.7 degrees Celsius which would miss the goal of 2 degrees above pre-industrial levels by 2100, Birol said.

According to the Agency's latest forecast, 730 GW of HELE plants will be built by 2040.More than half of the coal fleet in developing countries will increasingly consist of HELE plants by that time.

The crude oil price is now about $46 a barrel, have fallen dramatically over the last two years.

"Given its flexibility, gas now plays a critical role in balancing intraday fluctuations in power demand, and has an important role in the 2DS as a complement to variable renewables", said the IEA report. "The next frontier for the renewables story is to expand their use in the industrial and building sectors where enormous potential for growth exists".

Share:

IN CASE YOU MISSED IT

  • Killer Frost Unleashes Her Powers? What We Know So Far!
  • Carolina Panthers: Carolina loses to Kansas City 20-17
  • India bat first as Anderson and Rahul return
  • YOU MAY ALSO LIKE...

    • Lavalin: Federal minister Jody Wilson-Raybould resigns amid allegations 2/14/2019
    • Amazon Reconsiders NY Expansion Plans Amid Opposition 2/10/2019
    • United States oil prices edge up as market eyes tighter supply 2/08/2019
    • Venezuela military barricades bridge in attempt to block aid 2/07/2019
    • Venezuelans fear fuel shortages after USA oil sanctions 1/31/2019
    • Labour calls for vote that could trigger Brexit referendum rerun 1/23/2019
    • Germany considering ways to exclude Huawei from 5G auction 1/18/2019
    • Powell: Fed 'Waiting and Watching' With Patience on Rates 1/13/2019
    • China Says Trade Talks are Making Progress 1/11/2019
    • Apple Is the New Nokia, Analyst Warns 1/05/2019

RELATED NEWS

Hate crimes on rise, says Southern Poverty Law Center
As the USA Today network reported earlier this week, hate crimes against Muslims increased by two thirds in 2015 over 2014. As of November 13th, 328 hate crimes have been committed this year, compared to 250 during the same period in 2015.
11/18/2016

Merkel to Run for Fourth Term as German Chancellor - Ruling Party Member
Merkel, first appointed as chancellor in November 2005, became the first female chancellor in the history of the country. Angela Merkel will run for a fourth term as German Chancellor, a senior member of her party has said.
11/17/2016

China bans 'fatty' Kim Jong Un nickname on websites
The US is now exercising "strategic patience", in other words, non-interference, with North Korea . Writing in the New York Review of Books, Andrew J.
11/17/2016

Obama to reassure US allies about Trump's commitment to NATO
Obama disclosed that he told Trump during their meeting that every action he takes has huge consequences. Obama left the briefing room after the news conference.
11/17/2016

President-elect Trump considers getting children permission for security clearance
Now, the man who prosecuted the controversial businessman was none other than Christie, who was the attorney general at the time . Kushner holds a real estate portfolio of his own and owns the New York Observer, which was complimentary of Trump's candidacy.
11/17/2016

NASA astronaut on verge of becoming oldest woman in space
Strict when it comes to lifetime radiation exposure, NASA insisted Whitson remain Earth-bound for a while after her last mission. The transporter's passengers include astronauts who previously performed missions on the ISS namely, Whitson and Novitskiy.
11/17/2016

Wales will keep on fighting, says Bale
But they trail Group D leaders Serbia by two points after last month's draws against Austria and Georgia. That was the difference between a brilliant win for Chris Coleman's side and a deeply frustrating draw.
11/17/2016

China To Donald Trump: No, We Didn't Invent Climate Change
At the conference, US Secretary of State John Kerry tried to quell anxieties regarding the US's commitments to the Paris deal, according to Reuters .
11/17/2016

Man who went missing after attending Midtown party found dead
The bedding and clothing were found outside the building, where Comunale was planning to attend a party, CBS New York reports. One of the two men gave police information that helped authorities locate the body in Monmouth County, the sources said.
11/17/2016

Vikings make Forbath signing official after cutting Walsh
But I feel for him because I've been in the same situation, and I've learned the hard way that this is a tough business". But his replacing Blair Walsh is just part of the team trying to come out of turmoil.
11/17/2016

Breast cancer picked up later in black women, figures suggest
Mia Rosenblatt, assistant director of policy and campaigns at Breast Cancer Now, said it was a huge leap forward. Once cancer has been detected, it can be treated in accordance with the latest palliative measures.
11/17/2016

Lallana limps off after scoring for England
Liverpool will travel to Southampton this weekend, but a former Saint has reportedly been ruled out. Spain scored twice in the final 7 minutes to draw the game.
11/17/2016

Israel parliament OKs bill to legalise West Bank outposts
In all, an estimated 2,500 homes would be affected, while Palestinian landowners would be eligible for compensation. Opponents say the bill is illegal and is a unsafe attempt to override the nation's highest court.
11/17/2016

France U-20 (W) - Ghana U-20 (W)
Nigeria suffered their worst defeat in the history of the competition, losing 6-0 to Japan at the Bava Park, Port Moresby. Both sides had slipped to a heavy losses in their previous Group B clashes and were looking to make amends.
11/17/2016

Pacers final score: Pacers defeat Cavs 103-93
In the next match of the National Basketball Association 2016-17, the both teams of the Eastern Conference are going to perform. It was a sensational performance but the Cavs needed James throughout the game so he had to play a team-high 38 minutes.
11/17/2016

    • Top picks

      • USA stocks close lower as government shutdown looms12/23/2018
      • Russian Federation accuses USA of raising risk of nuclear war12/21/2018
      • OPEC's oil-cut pledge is vague, but Saudi plans lend some credibility12/19/2018
      • Man makes trapped box to combat porch pirates12/19/2018
    • Weekly News

      • China Takes ‘Coercive Measures’ Against Canadian Friend of Kim Jong12/15/2018
      • May vows to fight leadership challenge12/13/2018
      • British PM delays Brexit deal vote but European Union warns no renegotiation12/12/2018
      • Former Nissan chairman Carlos Ghosn charged12/11/2018
    • Latest News

      • What's Going On With Apple1/05/2019
      • Apple Lowers Quarterly Revenue Projection, Blames China1/04/2019
      • Sears at Park City Center in Lancaster among those closing in March12/30/2018
      • US, China to meet on trade, tariffs12/30/2018
    • Home
    • Our Team
    • Contact Info
    • Advertise

    Friday 22 February 2019

    © 2019 AntAndsoNs. ALL RIGHTS RESERVED.