Thanks to global population growth, rising living standards and related increases in manufacturing from now until 2050, the Energy Information Administration EIA sees energy consumption growing faster than advancements in efficiency
. The EIA projects that global energy-related CO2 emissions will increase by 2050 as a result of this increased consumption. “Non-fossil fuel-based resources, including nuclear and renewables, produce more energy through 2050, but in most of the IEO2023 cases we examined, that growth is not sufficient to reduce global energy-related CO2 emissions under current laws and regulations,” the EIA said on Wednesday in its October 2023 International Energy Outlook.
Coal and natural gas are poised to be responsible for 27-38% of global power generation capacity, which would represent a halving of its share from last year, Reuters quoted the EIA’s DeCarolis saying. The EIA notes that energy security concerns are hastening the transition away from fossil fuels in some countries, but at the same time, those concerns “drive increased fossil fuel consumption” in others.
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