China & India lead surge in future energy consumption

A new study released by the United States’ Energy Department predicts that the world’s energy consumption will surge 56% by the year 2040, nearly half of which will stem from China and India.

Sure, that date might seem a long ways away, but if we fail to address the problem now, there’s no telling how we’ll manage to meet future demand.

Based on current government policies, fossil fuels will account for 80% of world’s energy use by 2040; this, despite increased efforts to fund more alternative energy programs.

The natural gas industry is expected to grow faster than coal or oil, thanks in part to new extraction techniques (not to mention global warming, which is opening up natural gas deposits in the Acrtic).

While the U.S. has dominated fracking and the natural gas industry to date, they’ll soon have foreign competition to deal with. Russia is predicted to keep pace with the U.S. in terms of productivity, particularly in the Russian Arctic. The study claims that China and Canada are poised to increase production as well.

And where exactly is all this new fuel being shipped off to?

A majority of new production is intended to meet rising demands in other markets. Russia, for instance, is planning to export more gas to China, while more than a dozen other companies have proposed facilities to transport gas from the U.S. to Asia and Europe.

The Energy Department study warns that this trend could expand to other counties like India amid high oil prices, which “are expected to rise to $163 per barrel world-wide in 2040 from $105 in 2013. That increase could drive consumers to use less or seek alternatives.”

The result?

Burning more fossil fuels will increase the amount of carbon dioxide in our atmosphere. The study projects that emissions will increase 46% by 2040. That puts us well beyond the “point of no return” scientists have been warning us about for years.

The time for change is now. Follow us at nrglab.asia for updates on our slate of alternative energy projects designed to eliminate carbon-emissions and reduce consumption.