Global oil de­mand undimmed, U.S. to ben­e­fit, agency re­ports

The Washington Times Daily - - WORLD -

LON­DON | Oil will con­tinue grow­ing as a source of en­ergy for over two decades, with the U.S. set to be­come the undis­puted leader in crude and gas pro­duc­tion, the In­ter­na­tional En­ergy Agency said Tues­day.

The re­port from the Paris-based agency will come as grim news for of­fi­cials at­tend­ing global climate talks in Bonn, Germany. Sci­en­tists just this week said that emis­sions of the heat­trap­ping gas rose this year af­ter three years of not grow­ing.

The IEA said oil pro­duc­tion will be driven by con­tin­ued growth in en­er­gy­hun­gry in­dus­tries. Though so­lar power is set to be­come the cheap­est source of new elec­tric­ity gen­er­a­tion and the boom years for coal are over, oil and gas will con­tinue to meet the bulk of the world’s en­ergy needs, the IEA said. A more wide­spread use of elec­tric cars will not be enough to con­sign oil to the past, said IEA Ex­ec­u­tive Di­rec­tor Fatih Birol.

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