Predictions for the future
- Consumption of natural gas will double by 2030
- Oil production will increase by 1.4 million barrels a day to meet growing demand
- Consuming countries will become more dependant on imports of oil and gas - mostly from the Middle East and Russia
- After 2015, the easily accessable gas and oil reserves will be spent, new forms of less coventional energy sources will emerge, like deepwater oil and tar sands
- To close this gap that will be created new and more efficient sources of energy will need to be formed
The cost of "business as usual"
- Nichaolas Stern in the Stern Review estimated that climate change would cost the world between 5-12% of global GDP
- Global economic losses due to natural disasters (more extreme weather) have meant losses of over $150 billion a year
- Also economic output will fall by 3% due to the rising temperatures of 2-3 degrees Celcius, due to failing crop yields
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