26 November 2012, The Globe and Mail
An energy-thirsty world will need "every drop" of growing production in Canada's oil sands, but the industry will need to reassure a skeptical public that development can be done in an environmentally sustainable way, the International Energy Agency's chief economist says.[...] In an interview Monday in Ottawa, IEA chief economist Fatih Birol said booming oil sands production can be consistent with global progress on climate change, which requires a greater focus on energy efficiency and reducing emissions from coal-fired electricity, especially in places such as China and India."If the necessary [mitigation] measures are taken in terms of the production and transportation of oil sands, this will not have any significant impact on CO2 emissions growth," Mr. Birol said. "Compared to the major emitting countries, this is not peanuts, it is a small fraction of peanuts."
23 November 2012, The New York Times
The International Energy Agency, in its 2012 World Energy Outlook, released last week, forecast that American oil production, which began to rise in 2009 after decades of decline, would continue rising through at least 2020, when it could be about as high as it was in 1970, the year of peak production. At the same time it forecast that by 2035, American oil consumption, which peaked in 2005, could decline to levels not seen since the 1960s, depending on how much conservation is encouraged.
22 November 2012, USA Today
By now it's not news that "fracking" underground shale formations — cracking them open with high-pressure jets of water, chemicals and sand — has unlocked new supplies of natural gas and oil in places such as North Dakota and Pennsylvania. What's surprising is how big those supplies are, and how much they might change the world. Here's one measure: In its latest annual forecast, released last week, the Paris-based International Energy Agency (IEA) says fracking means the USA will overtake Russia to become the world's largest natural gas producer by 2015 and pass Saudi Arabia as the world's largest oil producer by 2017.
21 November 2012, Financial Times
The UNEP report is one of several significant studies on efforts to tackle global warming to be published on the eve of this year's two-week UN global climate talks, which start in the Qatari capital of Doha on Monday. A World Bank report earlier this week said unless countries' current climate-cutting commitments were fully implemented, the world could warm by four degrees by the end of the century, or by the 2060s if those pledges were not met. The International Energy Agency last week said if action to reduce CO2 emissions was not taken before 2017, all allowable emissions would be "locked in" by the energy infrastructure likely to exist at that time.
21 November 2012, Fortune
Last week, the International Energy Agency (IEA) projected a radical shift in the global energy balance of power when it announced that the U.S. is poised to become the world's largest oil producer by 2020. This comes at a time when unlocking reliable sources of domestic energy is at the forefront of conversation in this country and investors continue to deploy record amounts of capital into the sector. Less than a week after the re-election of President Barack Obama and only one week before the U.K.'s Autumn Statement, which is expected to contain a proposed energy plan, the IEA's prediction – if realized – will have long-term, far-reaching implications.
20 November 2012, Interfax Ukraine
World demand for energy resources will more than triple by 2035, while 60% of this growth will be concentrated in China, India and the Middle East, according to the World Energy Outlook 2012 prepared by the International Energy Agency (IEA). The agency experts said electricity consumption would grow two times faster than overall energy consumption. China by 2035 will need as much new capacity as is now jointly used by the United States and Japan. About one-third of the new generating capacities to be built by 2035 will be used to replace decommissioned ones. Renewable energy sources by 2015 will rank second in the world in terms of electricity production and account for about half of coal energy, and by 2035 the share of electricity produced by renewable energy sources will get close to coal power plants, the IEA considers.
19 November 2012, Oil & Gas Journal
With global oil demand continuing to increase, the US will replace Saudi Arabia as the world's largest oil producer about 2020, and North America will become a net oil exporter by 2030, according to the International Energy Agency. China, India, and the Middle East will account for 60% of a 30% increase in global energy demand between now and 2035, IEA projects in its World Energy Outlook 2012. By 2035, almost 90% of Middle Eastern oil flows to Asia in IEA's projection. "The global energy map is changing, with potentially far-reaching consequences for energy markets and trade," IEA says.
18 November 2012, BBC News
The International Energy Agency (IEA) has published its annual World Energy Outlook, and it's hard to think of any time when there's been more change under way. The element that caught a few headlines was the forecast that the US is on course to replace Saudi Arabia as the biggest producer of oil by 2020. Much of this is based on unconventional methods of fracturing 'tight' or shale rock. However, numerous other prospects were set out by this annual report on energy markets. The IEA has also looked at the attempt to limit global warming to an average 2 degrees Celsius, noting that each year, it looks more difficult and more costly to do so. And here's an astonishing fact: four-fifths of the allowable carbon dioxide emissions by 2035 are already locked in by existing power plants, factories and buildings. If action isn't taken by 2017, all the allowable emissions for 18 years after that will be accounted for. "Rapid deployment of energy-efficient technologies would postpone this complete lock-in to 2022, buying time to secure a much-needed global agreement to cut greenhouse-gas emissions," says the IEA outlook.
18 November 2012, Al-Jazeera
Although global heating of the planet by two degrees Celsius is not considered safe, going beyond that has often been called dangerous climate change. To have a coin-flip chance (50-50) of staying at two degrees Celsius, the IEA has calculated that most of the world’s coal reserves, 22 per cent of oil and 15 per cent of natural gas reserves must stay in the ground. Geographically, two-thirds of these reserves are in North America, the Middle East, China and Russia, according to the IEA’s annual flagship publication, the World Energy Outlook, published Monday.
16 November 2012, MarketWatch
In its latest annual report published this week, the Paris-based International Energy Agency proects that the United States will become the largest global oil producer, overtaking Russia and Saudi Arabia, by around 2020. “The global energy map is changing, with potentially far-reaching consequences for energy markets and trade,” the IEA said in its World Energy Outlook 2012 report. “Energy developments in the United States are profound, and their effect will be felt well beyond North America and the energy sector.”