Thursday, December 14, 2006

McKinsey Report Predicts Global Energy Usage

According to the McKinsey Global Institute, to date, the global debate about energy has focused too narrowly on curbing demand. Instead, the best way to meet the challenge of growing global energy demand may be to focus on energy productivity, which reconciles both demand abatement and energy-efficiency. According to the report, global energy demand will grow more quickly over the next 15 years than it has in the last 15. Demand could grow at a rate of 2.2 percent per year, boosted by developing countries and consumer-driven segments of developed economies. This acceleration will take place despite global energy productivity continuing to improve by 1.0 percent a year.

The McKinsey report states that no strategy can control the growth in energy consumption unless it includes developing countries. An estimated 13 percent of the growth in global energy demand between now and 2020 will come from new Chinese power plants, with Chinese vehicles and buildings adding to the load.

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