Rising demand for energy

The rising demand for energy
The International Energy Agency’s 2007 World Energy Outlook states that between now and 2030:
Global energy needs are expected to grow, with fossil fuels remaining the dominant source.
Between 2005 and 2030, energy needs are projected to expand by 55 per cent, with demand increasing from 11.4 billion tons of oil equivalent to 17.7 billion.
Between 2005 and 2030, energy consumption is expected to increase by 50 per cent, with the bulk of the demand coming from developing countries.
Oil, coal and gas together account for the majority of global primary energy consumption.
The global energy mix is not anticipated to change dramatically in the next 25 years.
At present, renewable energy’s share is less than 1 per cent, and it is not expected to exceed much more than 5 per cent by 2030.
Why is there an increase in the demand for energy?
World population is still increasing. The current world population of 7.2 billion is projected to increase by 1 billion over the next 12 years and reach 9.6 billion by 2050, according to a 2013 UN report.
Growth will be mainly in developing countries, with over 50 per cent in Africa.
Growing populations and increasing standards of living for many people in developing countries will place even more demand on energy resources.
The map outlines the predicted population change between 2003 and 2050.
What is driving the increase in worldwide energy demand?
(1) Industrialization, especially in emerging markets. Businesses, and factories in particular, require significant amounts of energy in the form of both electricity and petroleum-based fuels in order to operate. As economies industrialize, energy demand increases.
(2) Increasing wealth in emerging markets, especially China and India. When economies grow, their energy needs grow. Consumers want cars, air conditioners, refrigerators, and other energy hogs.
(3) Globalization. Transportation is Hipnoterapi Surabaya one of the largest consumers of energy in the world, accounting for 58 percent of liquid fuel consumption in OECD countries in 2004. As we move more often, further, and with greater speed, the energy we use in transportation will inevitably increase. Air travel in particular is a heavy user of fuel.
(4.) Concerns over energy security. While energy demand is typically driven by short-term considerations (e.g., GDP growth, weather, transport needs), long-term concerns over energy security around the world have led to what some might consider an irrational premium paid for energy assets. This is most apparent in the very favorable deals struck by China with host governments in countries around the world to explore for oil & gas, one of the contributing factors to the increasing premium paid per barrel of proven oil reserves in the oil exploration and production industry.
Companies who stand to benefit
ESCO Technologies (ESE) and Itron (ITRI) are two leading manufacturers of "smart" meter readers, and should benefit from the boost in DSM brought on by the rising worldwide demand for energy.
Johnson Controls (JCI), which helps design and maintain more energy-efficient buildings, is well-poised to benefit from the need of corporate customers to reduce energy consumption, as well as the need to reduce greenhouse gas emissions as a result of a possible carbon trading regime in the U.S.
Koninklijke Philips Electronics, N.V. (PHG) has already announced that it is phasing out incandescent bulbs and moving to fluorescent bulbs.

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