High Energy Demand and Supply Scenario

Abstract

An adequate energy supply system is a key issue in economic development and human welfare. The industrial development of the Northern part of the globe owes much to the abundant supply of cheap fossil fuels. It is the Southern countries aspirations for industrialization that will call for a significantly larger energy supply. Sustaining economic growth in the industrialized regions will add considerably to the world’s future energy consumption. Two scenarios labelled High and Low are described that indicate a plausible range of the long-term evolution of future economic and energy related activities in seven world regions. On this basis, the energy demand is calculated for each region. An aggregate view of the world’s energy resources is followed by a detailed presentation of energy supply strategies. Of particular interest are the implications of a High energy demand and supply scenario on the stock of world energy resources.