(RELEASED ON 12 NOVEMBER 2014)
Does growth in North American oil supply herald a new era of abundance - or does turmoil in parts of the Middle East cloud the horizon? How much can energy efficiency close the competitiveness gap caused by differences in regional energy prices? What considerations should shape decision-making in countries using, pursuing or phasing out nuclear power? How close is the world to using up the available carbon budget, which cannot be exceeded if global warming is to be contained? How can sub-Saharan Africa's energy sector help to unlock a better life for its citizens?
Answers to these questions and a host of others are to be found in the pages of World Energy Outlook 2014 (WEO-2014), released on 12 November in London.
Read more about WEO-2014 | Order WEO-2014
Bringing together the latest data and policy developments, the WEO-2014 presents up to date projections of energy trends for the first time through to 2040. Oil, natural gas, coal, renewables and energy efficiency are covered, along with updates on trends in energy-related CO2 emissions, fossil-fuel and renewable energy subsidies, and universal access to modern energy services.
World Energy Outlook 2014 - special early reports:
- World Energy Investment Outlook
- Africa Energy Outlook
The World Energy Outlook is recognised as the most authoritative source of strategic analysis of global energy markets. It is regularly used as input to the development of government policies and business strategies and raises public awareness of the key energy and environmental challenges the world is facing.
24 November 2014, Breaking News Trinidad and Tobago
The IEA Chief Economist, Dr. Fatih Birol, warned that current supply/demand dynamics in the global oil market run the risk of instilling a dangerous level of complacency around future oil supply that could lead to a sharp and unexpected tightening in the future oil balance. In particular, Dr. Birol pointed to current strong growth in US tight oil as only a “temporary” phenomenon and that the Middle East will become even more important for global oil supply growth in the long term.
21 November 2014, USA Today
It's not just prices that are a problem, either — but supply. While there are some new pipeline projects set for the EU, most are designed to push energy to only certain countries in the region. And with few other solutions on the horizon, some experts worry the EU will be hit by a major energy shortage in the future. "We are, in Europe, facing the risks of the lights going out soon," Fatih Birol, the International Energy Agency's chief economist, said recently.
21 November 2014, Hurriyet Daily News
Fatih Birol’s assessment of 2020 energy forecasts was even more surprising. The Chief Economist of International Energy Agency predicted that the calm in the oil markets will not stay forever. He also stressed the need for urgent and significant investment in the Middle East now in order to supply the 2020 demands. Birol says China will eventually leave dirty coal and its economy has already shown signs of slowing down.
Sub-Saharan Africa's energy sector can be improved to unlock a better life for its citizens. This report describes one of the most poorly understood parts of the global energy system, offers an authoritative study of its future prospects - broken down by fuel, sector and sub-region - and shows how investment in the sub-Saharan energy sector can stimulate rapid economic and social development across the region.
Large differences in regional energy prices are set to affect industrial competitiveness, influencing investment decisions and company strategies. The extraordinary rise of light tight oil in the United States will play a major role in meeting global demand growth over the next decade, but the Middle East – the only large source of low-cost oil – will remain at the centre of the longer-term oil outlook. India is set to overtake China in the 2020s as the principal source of growth in global energy demand.
Bringing together the latest data and policy developments, the World Energy Outlook 2013 presents up to date, projections of energy trends through to 2035, fuel by fuel, sector by sector, region by region and scenario by scenario. Oil is analysed in-depth: resources, production, demand, refining and international trade. Energy efficiency is treated in much the same way as conventional fuels: Its prospects and contribution are presented in a dedicated chapter. The report examines the outlook for Brazil's energy sector and provides updates on three key areas of critical importance to energy and climate trends: (i) achieving universal energy access; (ii) developments in subsidies to fossil fuels and renewables; and (iii) the impact of energy use on climate change.
World Energy Outlook 2013 - special early reports:
WEO User Survey
Thank you to all WEO readers who participated in the online user survey. Your feedback was greatly appreciated. A random draw was held to determine the recipients of five copies of WEO-2014. Congratulations to the winners: Peter Knutzen, Bengt Johansson, Kevin Noone, Henk Reimink and Toshio Sagane!
The IEA Energy Business Council is an executive-level group, with members from a wide variety of companies involved in energy exploration, production and consumption, ranging from commodities companies to automobile manufacturers to wind and solar producers and industry associations. Click here to visit the Energy Business Council website.