We’re gonna use less energy…but it will cost us more

This chart was prepared by the Economist based on the International Energy Agency’s recent report on the future supply of energy. What the chart shows is pretty simple:  developed nations ( OCED) will use much less coal and oil than the rest of the world.   It’s a zero-sum game:  since fossil fuels are limited, if one country uses more, then another country must use less.  But as supplies continue to dwindle, the price will inevitably go up.  That will put a huge crunch on us here in the US as we are so dependent on oil to power our lifestyles.  High prices will force us to conserve, but we will still be paying an ever higher amount for almost everything because oil demand in other countries will contiune to surge, driving up prices..

Further realism:  Our modern economy has never grown without a corresponding increase in energy use.  Is this chart telling us that economic growth is unattainable and that years of stagnation await?

The dramatic increase in coal and oil usage in China and the rest of the world will more than offset the declines in developed nations.  It doesn’t look good that we’ll ever stop the climate from finally tipping.

One interesting thing about the chart:  note how China’s natural gas demand is set to explode.  We’ve supposidly got a lot of natural gas here in the US.  What if we were to nationalize that gas, so that when the Chinese come to buy it that the country as a whole could benefit?  Nope. At air’s socialism.

From the Economist: “Global demand for energy will increase by 36% between 2008 and 2035, according to the International Energy Agency’s latest forecasts. Emerging economies will account for almost all of this increase (93%). In China, which overtook America last year to become the world’s largest energy user, demand is projected to increase by 75% over this period. Fossil fuels will still be the dominant source of energy in 2035, though their share in the energy mix will fall, while that of renewable energy sources and nuclear power will rise. The demand for coal and oil in the mostly rich members of the OECD will fall between 2008 and 2035—as will their share in world energy demand, from 44% to 33%.”


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