This post first appeared on FloatingPath
The U.S. EIA says that by 2040 developing nations will consume 65% of the world’s energy, up from 54% in 2010. Over this period, non-OECD nations’ energy demand will grow 2.2% annually while OECD countries will maintain their steady 0.5% growth.
The growing energy demand is largely driven by population. We know that the developing world’s population and GDP is surpassing that of developed nations and with that, so too is energy consumption. Compounding this issue is a burgeoning middle class in the largest growing countries like India and China. With more disposable income comes more energy-sucking gadgets and technologies. The EIA estimates that energy use per capita will remain flat in OECD countries over the next 30 years but will increase 46% in developing nations.
This scenario is leading some to raise the issue of global warming and how it will be affected by this increase in energy consumption.
