Aug. 8, 2005: Asia's Growth To Boost World Energy Use 57 Percent By 2025
The EIA's International Energy Outlook 2005 projects a doubling of energy use in the emerging economies of China and India, while the United States and other developed countries will experience a 27 percent growth in energy use. In addition, the EIA expects energy use to increase by 45 percent in Eastern Europe and the countries of the former Soviet Union.
As a result, the EIA expects world oil use to increase to 119 million barrels per day by 2025, requiring an increase in production of 35 million barrels per day relative to today's oil production. That's actually a slight decrease from last year's projection, because the EIA expects high oil prices to moderate demand. And despite recent escalations in oil prices, the EIA still expects prices to decline to $31 per barrel (in 2003 dollars) by 2010, then increase to $35 per barrel by 2025.
Meanwhile, grid-connected renewable energy sources are expected to keep pace with energy growth, maintaining an 8 percent share of world energy use. And although the Kyoto Protocol is now in effect, the EIA expects global carbon dioxide emissions to increase by nearly 60 percent over the next 20 years.
Publication date: 08/08/2005