Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
Print
Email
Discuss this article (1 Comments)$30 trillion to meet energy requirements
by This email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 08 May 2008
zoom
Oil and petrochemicals will form backbone of global energy supply for decades.
In a candid keynote speech to the region's energy professionals, the secretary general of the World Energy Council, Gerald Doucet, stressed the importance fossil fuels will play in meeting global energy demand for the next 40 years.
"Energy supply must double by 2050 to meet the needs of humanity, and even by then fossil fuels will still be dominant with oil and petrochemicals still the most vital fuel source," said Doucet.
The secretary general made his predictions in a keynote address to energy industry players from across the Middle East and Africa at the Microsoft Global Energy Forum, in Abu Dhabi.
The key thrust of Doucet's message was that through better management, and closer collaboration between big business and government, the ambitious target of doubling energy output could be met.
"The world has sufficient resources, skills and capital to meet these supply needs - the real challenge is getting resources from where they are plentiful, to where they are needed most," explained Doucet.
The WEC secretary general confirmed the pre-eminence of fossil fuels in any future energy plan, most notably oil and petrochemicals, and said whilst renewables may play a greater part, any hope of relying on these in the decades to come is false and dangerous.
"Renewable energy will certainly grow in importance, but dependency on these sources will not be achieved, and in particular some governmental targets being talked about for biofuels are simply not tenable."
The delegate Q&A session was dominated by questions surrounding the current oil price, and where WEC saw it heading.
"High prices are here with us to stay, WEC does not see oil dropping back to where it was in 2000 or even a $30 fall. Sustained high energy prices are here for the long term," he warned.
"In all the energy supply scenarios WEC has simulated to 2050 it is clear that global energy systems will be under stress, even if the US$30 trillion investment needed is forthcoming," he concluded.
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
Doubling the Energy by cloud seeding and Renewable Energy Sources
Posted by prof.T.Shivaji Rao, visakhapatnam, India on Friday 9 May 2008 at 10:01 UAE time
As an Environmentalist,I must warn that the warning of Gerald Doucet that Energy supply must double by 2050 and that fossil fuels have to play a key role is fraught with great danger both to the economies and environmental systems of the developing countries.
In fact Global warming gets accelerated and mankind will face serious environmental hazards.
In order to mitigate these emerging problems, we have to consider the options of increasing the Hydro-power energy on a substantial scale by cloud seeding which doubles this clean energy at a very inexpensive cost benefit ratio of 1:20 as available in the case of Tasmania, Australia as can be seen from the web site:
http://www.abc.net.au/rn/science/earth/stories/s1157040.htm
Many more examples of countries with cheaper Hydro-power are at:http://www.indiawaterportal.org/blog/index.php/2007/11/16/cloud-seeding/
http://gitam.edu/cos/env/English-Book.pdf
Since cloud seeding provides annual additional rainfall ranging from 10 to 40 percent, depending on the geographical, topographical and meteorological characters of a region, this additional water promotes agriculture and also energy plantations on a large scale for utilising the same for renewable energy sources.
Posted by prof.T.Shivaji Rao, visakhapatnam, India on Friday 9 May 2008 at 10:01 UAE time
As an Environmentalist,I must warn that the warning of Gerald Doucet that Energy supply must double by 2050 and that fossil fuels have to play a key role is fraught with great danger both to the economies and environmental systems of the developing countries.
In fact Global warming gets accelerated and mankind will face serious environmental hazards.
In order to mitigate these emerging problems, we have to consider the options of increasing the Hydro-power energy on a substantial scale by cloud seeding which doubles this clean energy at a very inexpensive cost benefit ratio of 1:20 as available in the case of Tasmania, Australia as can be seen from the web site:
http://www.abc.net.au/rn/science/earth/stories/s1157040.htm
Many more examples of countries with cheaper Hydro-power are at:http://www.indiawaterportal.org/blog/index.php/2007/11/16/cloud-seeding/
http://gitam.edu/cos/env/English-Book.pdf
Since cloud seeding provides annual additional rainfall ranging from 10 to 40 percent, depending on the geographical, topographical and meteorological characters of a region, this additional water promotes agriculture and also energy plantations on a large scale for utilising the same for renewable energy sources.
Click here to post a comment
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST ENERGY
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST ENERGY
LATEST MIDDLE EAST BUSINESS NEWS
- Banking & Finance: Islamic banks should target female market - report
- Travel & Hospitality: flydubai set to launch new flights to Nepal
- Real Estate: Dubai's Oct property sales value rises by 50% - official
- Politics & Economics: UAE considers allowing citizens to elect 50% of FNC
- Travel & Hospitality: Emirates brings forward Paris A380 plans
From 
Mobile
