The United States government predicted today that despite persistently high oil prices, global energy demand will grow by 50 per cent over the next two decades with continued heavy reliance on environmentally problematic fossil fuels, especially coal and oil.
“Fossil fuels ... are expected to continue supplying much of the energy used worldwide,” the Energy Information Administration report stated, in spite of the growth of renewable energy sources, especially wind and biofuels. The world's demand for liquid fuels – mostly oil – will continue to grow to 113 million barrels a day by 2030, nearly a third more than is consumed today.
The expected growth in energy demand is especially dramatic in developing countries, such as China and India, which are expected to have continued strong economic growth over the next two decades.