Energy Costs to Rise 'Viciously' Without Atomic Power, IEA Says
Lananh Nguyen,
©2011 Bloomberg News
Wednesday, November 9, 2011
Nov. 9 (Bloomberg) -- Energy will become "viciously more expensive" and polluting if governments don't promote renewable and nuclear power in the next two decades instead of burning coal, the International Energy Agency said.
Global demand for energy is set to increase 40 percent by 2035, the Paris-based agency said today in its annual World Energy Outlook report. Consumption will rise 1.3 percent a year to 16.96 billion metric tons of oil equivalent in 2035, spurred by China and other emerging economies, the IEA said.
The worst atomic accident in 25 years at the Fukushima plant in Japan on March 11 led Germany, Europe's biggest economy, to close eight of its 17 reactors permanently. Nuclear plants generate power continuously while emitting virtually no greenhouse gases. Without nuclear, keeping world temperature gains at 2 degrees Celsius (3.6 Fahrenheit) will cost an extra $1.5 trillion through 2035, the IEA said.
"If we do not have an international legally binding agreement soon, and if it doesn't give a boost to a major investment wave of clean energy technologies by 2017, the door to 2 degrees will be closed forever," Fatih Birol, the IEA's chief economist in Paris, said in an interview yesterday. A shift away from nuclear power "would definitely be bad news for energy security, for climate change and also for the economics of the electricity price."
(More here.)
©2011 Bloomberg News
Wednesday, November 9, 2011
Nov. 9 (Bloomberg) -- Energy will become "viciously more expensive" and polluting if governments don't promote renewable and nuclear power in the next two decades instead of burning coal, the International Energy Agency said.
Global demand for energy is set to increase 40 percent by 2035, the Paris-based agency said today in its annual World Energy Outlook report. Consumption will rise 1.3 percent a year to 16.96 billion metric tons of oil equivalent in 2035, spurred by China and other emerging economies, the IEA said.
The worst atomic accident in 25 years at the Fukushima plant in Japan on March 11 led Germany, Europe's biggest economy, to close eight of its 17 reactors permanently. Nuclear plants generate power continuously while emitting virtually no greenhouse gases. Without nuclear, keeping world temperature gains at 2 degrees Celsius (3.6 Fahrenheit) will cost an extra $1.5 trillion through 2035, the IEA said.
"If we do not have an international legally binding agreement soon, and if it doesn't give a boost to a major investment wave of clean energy technologies by 2017, the door to 2 degrees will be closed forever," Fatih Birol, the IEA's chief economist in Paris, said in an interview yesterday. A shift away from nuclear power "would definitely be bad news for energy security, for climate change and also for the economics of the electricity price."
(More here.)
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