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Welcome to a world of runaway energy demand

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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-17-07 11:26 AM
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Welcome to a world of runaway energy demand
http://www.ft.com/cms/s/0/af2a0ed4-9223-11dc-8981-00007...

The increase in Chinas energy demand between 2002 and 2005 was equivalent to Japans current annual energy use. This nugget of information, buried in the International Energy Agencys latest World Energy Outlook, tells one almost all one needs to know about what is happening to the worlds energy economy.

Neoclassical economics analysed economic growth in terms of capital, labour and technical progress. But, I now think, it is more enlightening to view the fundamental drivers as energy and ideas. Institutions and incentives provide the framework within which the development and application of useful knowledge transforms the fossilised sunlight on which we depend into the stream of goods and services we enjoy.

This is the world of abundance that China and India are now joining. Nothing short of a catastrophe will stop them. For the pessimists, however, particularly climate-change pessimists, catastrophe will follow. What is certain is that the challenges ahead are huge.

Here, then, are the highlights of the new report.

<more>
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Fovea Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-17-07 11:57 AM
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1. If America is not the leader into the Green economy
then it will be sucked under the wheels of the Brown economy.
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