| The IEA’s 2012 World Energy Outlook has spurned many a headline since its release on Monday, which should be none too surprising given it is 688 pages long. The executive summary of the report can be viewed here (which is 676 pages less than the full version), while through even more distillation here are ten points I have gleaned from it in the past few days:
1) The number of vehicles on the road is set to double to 1.7 billion by 2035. Increasing demand for road freight is responsible for almost 40% of the increase in global oil demand. 2) US oil production is set to surpass that of Saudi Arabia by 2020 to become the largest global oil producer (caveat: this will only likely be until the mid-2020s, when Saudi takes back this accolade).............................................Full Article: Source
|