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Thursday, November 13, 2008
International Energy Agency Releases World Energy Report
November 12, 2008
The International Energy Agency (IEA) released its 2008 World Energy Report. The Report stressed that world energy systems face a crossroads, and must combat patently unsustainable behaviors. Despite the recent economic downturns which have lessened demand on oil, the Report states that "Oil is the world’s vital source of energy and will remain so for many years to come, even under the most optimistic of assumptions about the pace of development
and deployment of alternative technology."
Given the world's reliance on oil, the IEA calls for radical and coordinated policy action from national and international authorities in order to both decarbonize energy sources while speeding up the transition to alternative energy forms. The IEA promoted increasing financial incentives and regulatory frameworks, and removing existing conventional energy subsidies, as viable policy paths. The Report stresses that any policy choice must support both energy-security andclimate-policy goals in an integrated way.
While the IEA holds that world oil has yet to reach a peak, the fact that oil field declines are accelerating should prompt government actors, despite the fall in oil prices, to continue aggressively investing in alternative energy paths.
To read the IEA World Energy Report, and access other IEA materials, click here.
The International Energy Agency (IEA) released its 2008 World Energy Report. The Report stressed that world energy systems face a crossroads, and must combat patently unsustainable behaviors. Despite the recent economic downturns which have lessened demand on oil, the Report states that "Oil is the world’s vital source of energy and will remain so for many years to come, even under the most optimistic of assumptions about the pace of development
and deployment of alternative technology."
Given the world's reliance on oil, the IEA calls for radical and coordinated policy action from national and international authorities in order to both decarbonize energy sources while speeding up the transition to alternative energy forms. The IEA promoted increasing financial incentives and regulatory frameworks, and removing existing conventional energy subsidies, as viable policy paths. The Report stresses that any policy choice must support both energy-security andclimate-policy goals in an integrated way.
While the IEA holds that world oil has yet to reach a peak, the fact that oil field declines are accelerating should prompt government actors, despite the fall in oil prices, to continue aggressively investing in alternative energy paths.
To read the IEA World Energy Report, and access other IEA materials, click here.
Labels: energy policy, environment, oil price, oil supply
posted by Amanda Voss at 8:48 AM
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