The International Energy Agency said in its annual World Energy Outlook released today that the current path for global energy consumption is unsustainable unless drastic measures are taken to cut the use of fossil fuels.
Bloomberg’s take: “IEA Cuts 2030 Global Oil Demand Forecast on Economy “
The Reuter’s headline: “IEA sees gas glut until 2015, rising coal role.
The WSJ’s main news section headline: “Climate deal would cut oil-demand growth.
The WSJ Environmental Capital blog has a nice summary under a “Current energy plans ‘unsustainable'” headline, with the conclusion that it will require serious energy efficiency measures to head-off the problem.
The agency also denies an item in The Guardian yesterday that said the IEA has downplayed the severity of oil shortages to placate U.S. concerns over panic buying.
“We’re the ones that are out there warning that the oil and gas is running out in the most authoritative manner. But we don’t see it happening as quickly as some of the peak oil theorists,” Richard Jones, deputy executive director of the IEA, told CNN.
“Generally, we’re viewed as more pessimistic than we should be by the (oil) industry,” he added.