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28 maio 2019

The Future of World Energy – Influencing Factors. By Hisham Khatib

There are a few distinctive features relevant to the energy system which are going to influence its future

Source : International association of Energy (IAEE)  –  Energy Forum / First Quarter 2019

 

There are a few distinctive features relevant to the energy system which are going to influence its future

  • The inertia of the energy system (political as well as economic). This is going to slow change (due to its size, huge existing assets embedded in the system, and enormous investments required if a low carbon world is to be achieved). Reshap- ing existing energy practices will take years and years.
  • The existence of large reserves of currently relatively low cost, tradable and highly e cient naturally available fossil fuels.
  • Money is becoming more expensive. Investors in highly capital energy projects are becoming more cautious (particularly global oil compa- nies).
  • Existing, but also growing, powerful environmen- tal lobbies.
  • There are real concerns about global climatic change and its potential consequences, but also uncertainties, which require carefully considered precautionary policies and actions.
  • The IEA estimates cumulative global energy supply investment over the period 2016-2040 at $50 trillion (2015 $). Only 18% are in low carbon technologies.
  • Large numbers of people remain unable to ac- cess electricity and other modern energy ser- vices.

 

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