Oil demand

The world’s demand for primary energy will grow by 45% between 2006 and 2030, according to new forecasts from the International Energy Agency (IEA). The global demand for oil is expected to rise from 85m to 106m barrels a day. The thirst for oil among the mostly rich countries in the OECD is set to fall—so that all and more of the increase in oil demand will come from developing economies. The IEA reckons China will account for 43% of the rise in demand, with India and the Middle East contributing around 20% each. With oil consumption comes pollution. The IEA predicts that three-quarters of the increase in emissions between now and 2030 will come from China, India and the Middle East.

Link:
http://www.economist.com/markets/indicators/displaystory.cfm?story_id=12607120&fsrc=rss

Comment:
The economy is very oil hungry which the chart above shows clearly. The economy is doing remarkable efforts in every aspect to improve fuel efficiency or invent alternative usages of other energy sources, such as hybrid cars, photovoltaics, etc. But all these efforts and ideas seem to develop very slow compared to our hunger for more and more oil. Without shifting in the highest gear for more improvements and consistent usage of alternative energy by everybody, there will be a disaster once all oil resources exhausted.

Oezguer (Oscar).