Cheaper oil prices reduce incentives for investment in alternative energy sources. Such an approach is short-sighted, however, given our current understanding of predicted energy needs:

• Today, fossil fuels account for approximately 80% of energy consumption.
• The steep rate of decline in output from conventional oil fields means that “peak oil” might be reached sooner than anticipated.

It is widely believed that a price of at least $75 per barrel is needed to sustain investments in both conventional production as well as research into alternatives.

Implementation of a new energy mix, including energy conservation measures and the development of alternative energy sources, would support our current quality of life and reduce inequalities across the globe.

Implementation of a new energy mix, including energy conservation measures and the development of alternative energy sources, would support our current quality of life and reduce inequalities across the globe.

KEY ISSUES

• Optimization of the energy mix and development of new technologies
• Investments to secure alternative energy supplies
• Energy policies, energy savings and technologies to reduce greenhouse gas emissions, taking into consideration the particular challenges associated with their specificities and implementation time
• The future of fossil fuel and carbon sequestration issues
• Incentive systems, such as a carbon emission pricing, and their effectiveness in securing sufficient investments in oil and alternative sources of energy

There is increasing political will to address current concerns about the environment, as evidenced by the widespread adoption of the Kyoto protocol. Previous scepticism about our role in causing global warming is gradually being replaced with an acknowledgement that lifestyles need to change. Individuals and governments are seeking guidance on what changes to institute.

The adoption of a new, forward-looking energy mix offers a concrete way to address the consequences of climate change.

According to the IEA, reductions in fossil fuel consumption from 80% to 67%, and the use of carbon capture and storage, are minimum requirements.

It would seem that current measures are unlikely to be enough: the IEA estimates that even if every policy under consideration for supporting renewable energies and improving energy efficiency were to be adopted, the share of fossil fuels to the world’s energy mix would only fall by about 5%.

KEY ISSUES

• The impact of increasing greenhouse gas emissions on the physical and biological environment and their induced impacts on society
• Technological and economic proposals to mitigate or adapt to climate change
• Industrial response to climate change
• Impact evaluation and elaboration of policy responses to climate change
• Review and assessment of economic instruments and policy options to mitigate climate change

There is increasing political will to address current concerns about the environment, as evidenced by the widespread adoption of the Kyoto protocol. Previous scepticism about our role in causing global warming is gradually being replaced with an acknowledgement that lifestyles need to change. Individuals and governments are seeking guidance on what changes to institute.

The adoption of a new, forward-looking energy mix offers a concrete way to address the consequences of climate change.

According to the IEA, reductions in fossil fuel consumption from 80% to 67%, and the use of carbon capture and storage, are minimum requirements.

It would seem that current measures are unlikely to be enough: the IEA estimates that even if every policy under consideration for supporting renewable energies and improving energy efficiency were to be adopted, the share of fossil fuels to the world’s energy mix would only fall by about 5%.

• According to the World Energy Council, some 1.6 billion people, living mainly in rural areas of developing countries, have no access to electricity or any other modern form of energy.
• 7% of the world’s population lacks access to clean drinking water.
• According to World Bank estimates, two million deaths annually in developing countries can be attributed to indoor pollution from poor quality cooking fuels.
• Demand for energy is expected to grow strongly as a result of economic development in emerging markets, especially China and India.