Rising Worldwide Demand for Energy

RECENT NEWS
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The Hindu Business Line  Apr 3  Comment 
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newratings.com  Jan 26  Comment 
LONDON (dpa-AFX) - According to the 2017 edition of the BP Energy Outlook, global demand for energy is expected to increase by around 30% between 2015 and 2035, an average growth of 1.3% per year. However, this growth in energy demand is...
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Worldwide energy consumption is destined to grow...
Worldwide energy consumption is destined to grow...
...across all fuel types
...across all fuel types


The 2009 World Energy Outlook, published by Jual Locker the International Energy Agency, predicts that world demand for oil (often used as a proxy for world demand for energy) will increase from 2,000 million tons of oil equivalent (mtoe) to 16,800 mtoe in 2030.[1] About 93% of this increase in demand is expected to come from China and India. Meeting this demand growth, will Vertical Blind require spending $26.3 trillion by 2030, as the majority of Roller Blind in 2030 will come from fields that have not yet been discovered or developed.[1] GPS Tracker | Konsultan Pajak

What is driving the increase in worldwide energy demand?

...across all fuel types
...across all fuel types

(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.

How will we mitigate rising energy demands?

Energy efficiency will need to improve around the world, EIA
Energy efficiency will need to improve around the world, EIA

The worldwide increase in SAP Indonesia demand energy for energy has put ever-increasing pressure on identifying and implementing ways to save energy. In fact, the world has consistently improved its energy efficiency (in terms of energy required to produce one dollar of GDP). However, going forward the world will need even more improved energy efficiency measures.

More efficient buildings -- Reflective roofing, better use of daylight, and other green-friendly and energy-friendly improvements can drastically reduce energy demands from electricity-guzzling commercial buildings.

Light bulbs -- Seriously, this is one of the least cost, highest impact ways to save on energy bills. estimates that each $2 spent on new compact flourescent lamps (CFLs) bulb can save more than $30 in power and replacement costs. It helps that they last 10 times longer than standard bulbs.

Demand-side management (DSM) -- For years, utilities have been trying to convince their consumers to reduce their power consumption during peak usage periods (think: 105-degree summer day in Phoenix). These efforts fall under the general category of demand-side management. As electricity becomes more expensive, consumers and utilities will have a mutual interest in finding new ways to manage demand for electricity so as to reduce the cost to the end-user. For example, programs to turn off idle appliances, rather than let them "sleep" in low-power mode, or to automatically turn off the heat or air conditioner during the wee hours of the night in corporate headquarters.

Fuel efficiency -- Sure, everyone you know drives a Prius, but there are myriad other ways to improve fuel efficiency. One of the most obvious involves ensuring proper inflation of one's tires. In fact, automobile manufacturers are exploring electronic remote monitoring of tire pressure as one methods to ensure fuel efficiency. Another method, less likely to win over road warrior Americans, is to limit frequent and intense stopping and starting, the most fuel-intensive driving activities.

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.

References

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