On November 10, 2015, the International Energy Agency (IEA) unveiled its annual World Energy Outlook for the year 2015 during a press conference held in London. This follows the release in June 2015 of the IEA Special Report on Energy and Climate Change in support of the highly anticipated United Nations Summit on Climate Change that will be held in Paris, France, in December 2015.
The outlook provides an analysis of the global energy market in 2015 and highlights the importance of reducing global warming toward low-carbon energy and efficient energy policy instruments.
The outlook observes that the evolution of China and India’s energy consumption may significantly influence energy security and the environment at a global level. It predicted that “by 2030 [China will likely] overtake the United States as the biggest consumer of oil.” As for India, “policies in place to accelerate the country’s modernization and develop its manufacturing base . . ., [as well] population and incomes on the rise and an additional 315 million people anticipated to live in India’s cities by 2040.” Therefore, the outlook stresses that it is important to be more vigilant than ever in terms of policy choices.
The outlook also emphasizes on natural gas as being “a good fit for a gradually decarbonizing energy system” despite the concerns surrounding methane emissions.
Written by Chloe Marie - Research Fellow