Posts Tagged ‘International Energy Agency’

Coal consumption growing inexorably — but global temperatures are still declining

December 19, 2012

The International Energy Agency has just released its annual Medium-Term Coal Market Report (MCMR) and reports that “coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’s top energy source”.

Yet global temperatures have not risen for 16 years and continue to decline. And the demonisation of the use of coal has increased electricity prices quite unnecessarily. The end of the world will not happen either on 21st December 2012 or by the use of fossil fuels.

In a press release the IEA says:

“Thanks to abundant supplies and insatiable demand for power from emerging markets, coal met nearly half of the rise in global energy demand during the first decade of the 21st Century,” said IEA Executive Director Maria van der Hoeven. “This report sees that trend continuing. In fact, the world will burn around 1.2 billion more tonnes of coal per year by 2017 compared to today – equivalent to the current coal consumption of Russia and the United States combined. Coal’s share of the global energy mix continues to grow each year, and if no changes are made to current policies, coal will catch oil within a decade.” 

China and India lead the growth in coal consumption over the next five years. The report says China will surpass the rest of the world in coal demand during the outlook period, while India will become the largest seaborne coal importer and second-largest consumer, surpassing the United States.

The report notes that in the absence of a high carbon price, only fierce competition from low-priced gas can effectively reduce coal demand. “The US experience suggests that a more efficient gas market, marked by flexible pricing and fueled by indigenous unconventional resources that are produced sustainably, can reduce coal use, CO2 emissions and consumers’ electricity bills, without harming energy security,” said Ms. van der Hoeven. “Europe, China and other regions should take note.”

While coal consumption and carbon dioxide have been rising, global temperatures have not been paying any attention – much to the dismay of alarmist models.

(more…)

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No “peak” gas in sight as IEA doubles estimates of gas reserves

January 20, 2011
United States shale gas plays

Image via Wikipedia

Known reserves of Natural gas were  thought to be sufficient for 60 to 120 years. Now with shale gas being produced in large quantities, the IEA has revised known reserves upwards to 250 years — and they could be further revised upwards.

Yet another scare scenario of resource depletion bites the dust!!

From the BBC:

The world may have twice as much natural gas than previously thought, according to the rich nations’ think tank the International Energy Agency (IEA). The world may have 250 years of gas usage at current levels thanks to “unconventional gas” from shale and coal beds, Anne-Sophie Corbeau, senior gas expert at the IEA told BBC News.

Estimates may even be revised upwards. Studies are underway into newly-recoverable sources, Ms Corbeau said. But she stressed that the totals were highly uncertain, and depended on price, technology and the accessibility of supplies.

“The gas story is huge,” she told BBC News. “A few years ago the United States was ready to import gas. In 2009 it had become the world’s biggest gas producer. This is phenomenal, unbelievable.” The US achieved the change through a technological breakthrough in which firms found a way of using tiny explosions to free gas previously trapped in a common rock – shale.

Miss Corbeau said other nations were now rushing to replicate the US success by exploiting gas currently trapped in various types of rock where it was thought to be impossible to access.

She said conventional natural gas supplies were assured for 60 years – with maybe a further 60 years if engineers could get to other supplies. She admitted there is great uncertainly about how much unconventional gas is possible to exploit, but said the best estimate is that new sources will stretch gas supplies to 250 years at current levels.

“The resources are really huge,” she said.

“We probably have 920 trillion cubic metres – that is more than 300 times the current annual demand for gas. “Not all of this will be recoverable, but any country that develops new gas supplies will have a global impact on gas availability and price, as gas markets are all inter-connected.”

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