Energy supply requires $40T investment to 2035, IEA says

|By:, SA News Editor

Meeting the world’s energy supply needs by 2035 will require more than $48T of investment, with more than half needed to compensate for declining output at mature oil and gas fields and the rest on finding new supplies to meet rising demand, the IEA says in a new report.

North American shale output is forecast to tail off from the middle of next decade, restoring the importance of supplies from the Middle East and OPEC.

Europe could face an energy shortfall if power companies and oil producers fail to invest ~$2.2T through 2035 to replace aging electricity infrastructure and meet regulatory goals to reduce carbon emissions, according to the agency, which advises industrialized nations on energy policy.

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