World Energy Outlook 2011

World Energy Outlook 2011

Key Highlights:

• Scope and Purpose: The World Energy Outlook 2011 (WEO) provides comprehensive analysis and insights into global energy markets for the current year and the next 25 years. It includes detailed projections for energy demand and supply across various scenarios, sectors, and countries.

• Focus Areas:

  • Russia’s Energy Prospects: Analysis of Russia's energy prospects and their implications for global markets.
  • Role of Coal: Examination of coal's role in driving economic growth while adhering to emission constraints.
  • Middle East and North Africa: Impact of potential delays in oil and gas sector investments in the region.
  • High-Carbon Infrastructure Lock-In: Discussion on how existing high-carbon infrastructure is making it harder and more expensive to achieve the 2°C climate change target.
  • Energy Subsidies: Scale and impact of fossil fuel subsidies and support for renewable energy.
  • Low Nuclear Case: Investigation of the implications of a rapid slowdown in nuclear power usage.
  • Energy Access: Scale and type of investment needed to provide modern energy to the world's poor.

• Cost Estimates:

  • Cost to bring modern energy to every citizen by 2030 and methods to finance it.

• Projections and Forecasts:

  • Renewable energy expected to provide half the new power generation capacity by 2035.
  • Natural gas contributing positively to future energy security.
  • Increasing demand for mobility shaping oil markets, with implications for Middle Eastern and North African investments.
  • Carbon emissions locked-in due to ongoing construction of plants and equipment.
  • Over 90% of permissible energy sector emissions to 2035 locked-in by 2015, with 100% by 2017.

• Challenges and Opportunities:

  • Need for immediate action to contain the rise in average global temperature to 2°C.
  • Rising costs and increased difficulty of achieving sustainability goals each year without timely intervention.

• Collaboration and Expertise:

  • Contributions from global experts within and outside the International Energy Agency (IEA).
  • Coordination by Fatih Birol, Chief Economist of the IEA, and his team.

• Organization:

  • Produced by the Office of the Chief Economist of the International Energy Agency (IEA).

• Executive Summary:

  • Emphasis on the importance of informed government decisions for a secure and sustainable energy future.
  • Call to action for immediate energy decisions to address the 2°C climate change target.

Conclusion

The World Energy Outlook 2011 underscores the critical need for timely and informed energy policy decisions to address both economic and environmental challenges. Key areas such as energy access, coal and renewable energy roles, and the impact of existing infrastructure on climate goals are highlighted. The report calls for urgent action to mitigate the long-term costs and risks associated with climate change.