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Global oil production peaked in 2006 according to the International Energy Agency's new report
We are now inhabiting a 'post-peak' world. That is the implication of the International Energy Agency's (IEA) new report, World Energy Outlook 2001, which in its 25-year 'New Policies Scenario' projects that it is most probable that conventional crude oil production "never regains its all-time peak of 70 million barrels per day reached in 2006."
In a new IEA report intended to inform and guide climate and energy policy decision makers, the Energy Technology Perspective 2010 demonstrates that the clean technology revolution will require an additional $46 trillion investment (beyond energy infrastructure investment expected in BAU scenarios) if we intend to halve carbon emissions by 2050 (from 2005 levels). And, the IEA adds, a carbon price alone will not be sufficient to drive that level of investment.
University of Leeds Professor Joyce Dargay and New York University Professor Dermot Gately have a new research paper suggesting that projections from the DOE, IEA, and OPEC are underestimating the challenges ahead for meeting world oil demand.
"Take all the power stations in the United States. Together, they produce almost 1000 gigawatts of electricity - enough to boil several billion kettles simultaneously.
Now imagine building another five power stations for every one that already exists in the United States. That is about the amount of electricity generation that the world is on track to add over the next 20 years. And three-quarters of the new stations will use fossil fuels."
"Man-made greenhouse gas emissions will drop 3% in 2009 largely because of the worldwide financial crisis, the International Energy Agency (IEA) said today.
Three-quarters of the reduction has been the result of less industrial activity, with the rest coming from countries turning to renewable energy and nuclear power."
"Ireland now ranks fourth in the world for the contribution of wind energy to electricity use, according to the International Energy Agency's 2008 Wind Energy Annual Report.
Ireland, which supplies 8.7% of electricity demand from wind, is only behind Denmark (19.3%), Spain (11.7%) and Portugal (11.3%)."
"In the lead-up to the UN climate negotiations in Copenhagen, the latest information on the level and growth of CO2 emissions, their source and geographic distribution will be essential to lay the foundation for a global agreement. To provide input to and support for the UN process the IEA is making available -- both earlier and for free download -- the Highlights version of CO2 Emissions from Fuel Combustion. "
This roadmap requires $50 trillion investment, 32 new nuclear plants each year, 17,500 new wind turbines each year...
These are big numbers.
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