If you're an oil exec, the world is a rosy place -- and I'm not talking about the pink haze of heat that's been rising from the burning American West all summer. I'm talking about energy consumption where the news just couldn't be cheerier. Despite declines in North America and Europe, according to a new study by the U.S. Energy Information Administration (EIA), world consumption of petroleum products in 2012 rose to record heights, a staggering 88.9 million barrels a day. Increases in Asia in particular were impressive, as a snazzy little animated graphic of soaring global oil use, 1980-2012, at the EIA's website makes clear.
And speaking of upbeat news, there was another rosy record set in 2012 (at least, if you're an oil exec who could care less about the fate of the planet): carbon dioxide emissions leaped into the atmosphere in record quantities, 31.6 billion tons of CO2, even as U.S. greenhouse gas emissions dropped, in part because utilities were switching from coal to natural gas. Of course, significant amounts of the coal not used in this country get shipped off to places like China where it no longer counts as U.S. emissions when it heads skyward.
Anyway, put the two together and you can practically see the heat haze of an eternal summer rising on the eastern horizon. In fact, these days even the worst news for the rest of us can be good news for the energy industry. For example, the possibility of an American intervention in Syria, a spreading conflict in the region, and chaos in Middle Eastern oil markets has already helped raise the price of a barrel of crude oil above $115. An American air assault on Syrian military facilities in Damascus could send that price over $120 and cause pain at the pump in the U.S. as well. So you and I won't be happy, but oil execs will be toasting their good fortune.
In the coming years, there's likely to be no end to this sort of good news, as Michael Klare, TomDispatch energy expert and author of The Race for What's Left, makes clear today. If you thought fossil fuel consumption and greenhouse gas emissions were at unbeatable levels, just wait until he introduces you to Earth 2040. If, by then, you're the CEO of a big energy company, you'll truly be in the pink. As for the rest of us, if you'll excuse the expression, we'll be in the red. Tom
Our Fossil-Fueled Future
World Energy in 2040
By Michael T. Klare- Advertisement -
What sort of fabulous new energy systems will the world possess in 2040? Which fuels will supply the bulk of our energy needs? And how will that change the global energy equation, international politics, and the planet's health? If the experts at the U.S. Department of Energy are right, the startling "new" fuels of 2040 will be oil, coal, and natural gas -- and we will find ourselves on a baking, painfully uncomfortable planet.
It's true, of course, that any predictions about the fuel situation almost three decades from now aren't likely to be reliable. All sorts of unexpected upheavals and disasters in the years ahead make long-range predictions inherently difficult. This has not, however, deterred the Department of Energy from producing a comprehensive portrait of the world's future energy system. Known as the International Energy Outlook (IEO), the assessment incorporates detailed projections of future energy production and consumption. Although dense with statistical data and filled with technical jargon, the 2013 report provides a unique and disturbing picture of our planetary future.
Many of us would like to believe that, by 2040, the world will be far along the path toward a green industrial future with wind, solar, and renewable fuels providing the bulk of our energy supplies. The IEO assumes otherwise. It anticipates a world in which coal -- the most carbon-intense of all major fuels -- still supplies more of our energy than renewables, nuclear, and hydropower combined.
The world it foresees is also one in which oil remains a preeminent source of energy, while hydro-fracking and other drilling techniques for extracting unconventional fossil fuels are far more widely employed than today. Wind and solar energy will also play a bigger role in 2040, but -- as the IEO sees it -- will still represent only a small fraction of the global energy mix.
Admittedly, International Energy Outlook is a government product of this moment with all the limitations that implies. It envisions the future by extrapolating from current developments. It is not visionary. Its authors can't imagine energy breakthroughs that have yet to happen, or changes in world attitudes that may affect how energy is dealt with, or events like wars, environmental disasters, and global economic recessions or depressions that could alter the world's energy situation. Nonetheless, because it assesses current endeavors that are sure to have long-lasting repercussions, like the present massive worldwide investments in shale oil and shale gas extraction, it provides an extraordinary resource for imagining the energy crisis in our future.
Among its major findings are three fundamental developments:
* Global energy use will continue to rise rapidly, with total world consumption jumping from 524 quadrillion British thermal units (BTUs) in 2010 to an estimated 820 quadrillion in 2040, a net increase of 56%. (A BTU is the amount of energy needed to heat one pound of water by one degree Fahrenheit.)- Advertisement -
* An increasing share of world energy demand will be generated by developing countries, especially those in Asia. Of the nearly 300 quadrillion BTUs in added energy needed to meet global requirements between now and 2040, some 250 quadrillion, or 85%, will be used to satisfy rising demand in the developing world.
* China, which only recently overtook the United States as the world's leading energy consumer, will account for the largest share -- 40% -- of the growth in global consumption over the next 30 years.
These projections may not in themselves be surprising, but if accurate, the consequences for the global economy, world politics, and the health and well-being of the planetary environment will be staggering. To meet constantly expanding world requirements, energy producers will be compelled to ramp up production of every kind of fossil fuel at a time of growing concern about the paramount role those fuels play in fostering runaway climate change. Meanwhile, the shift in the center of gravity of energy consumption from the older industrial powers to the developing world will lead to intense competition for access to available supplies.