Skip to main content

Posts

Showing posts from January, 2013

Energy Market: which way the wind is blowing?

The world population is growing rapidly and according to demographers by 2035 it will reach 8.5 billion people.   Subsequently, the world primary energy demand is anticipated to increase at an average annual growth rate of 1.5% under annual GDP growth of 2.8%.   E nvironmental, economic and energy experts forecast the results of possible strategies of world energy development and calculate whether the world will meet 2 Degree Celsius (2C) target - a widely agreed international objective of the UN Framework Convention on Climate Change to avoid global warming by 2020.   Yet, with the Arab Spring, earthquake in Japan and global recession impacting energy markets, it will inevitably be tougher to reach the 2C goals. 2011 was a year when we had to learn the importance of reserving spare capacity for dealing with potential supply disruptions. We have seen oil at record high prices due to instability in the Arab world; we witnessed the dangers of nuclear power on the case of F