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"The Age of Cheap Energy is Over" - IEA [View All]

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bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-23-11 02:28 PM
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"The Age of Cheap Energy is Over" - IEA
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One of these scenarios the New Policies Scenario takes account of the broad policy commitments that have already been announced by governments. It assumes cautious implementation of national pledges made at the UN Climate Change conference in Copenhagen to reduce greenhouse-gas emissions by 2020, and also assumes that new measures are introduced after 2020 to maintain the pace of decline in carbon intensity.

In this scenario, by 2035, three-quarters of the worlds oil production from existing fields will need to be replaced, Mr Tanaka said.

That works out to just over 50 million barrels per day, which is equivalent to about four times the production capacity of Saudi Arabia, the worlds largest oil producer.

http://www.iea.org/index_info.asp?id=1928

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I know there is some sentiment that the whole issue is a conspiracy between corporations and profiteer-governments, and if we just got the politicians to handle things we'd be back to normal...but if you've followed the problem for much time, its worth considering that there is no normal, now or in the future. It doesn't matter where you place the blame, things will be different.

It would be most pragmatic to prepare for a future of less abundant and more expensive energy, and realize the whole world's in the same boat on this one.
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