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There Is A Continuous Increase In Worldwide Energy Demands

 The demand for worldwide energy continues to increase year by year and the 2009 World energy Outlook predicted the numbers would only go up from here.  The International Energy Agency predicted the world demand for oil would increase from 2,000 million tons to 16,800 in 2030.  In order to meet this demand growth, it will require spending $26.3 trillion.  The question on many people’s minds is what is driving the increase in Worldwide Energy Demands to such a degree.

The first thing increasing the worldwide demands is industrialization; particularly in emerging markets.  Businesses and factories require a tremendous amount of energy in order to function and operate properly.  The energy needed comes in the form of electricity and petroleum-based fuels.  As each economy continues to industrialize, the demand for energy continues to increase.

The next reason for the increase in Worldwide Energy Demands is the overwhelming increase in wealth for emerging markets.  This is especially the case in China and India where the economies are booming and money is pouring out.  Consumers are hungry in these economies for cars, houses, refrigerators and a wide array of technological devices requiring energy.

Globalization is next on the list as transportation continues to be one of the largest consumers of energy in the world.  In 2004 transportation accounted for 58 percent of liquid fuel consumption in OECD countries and that number has only gone up over the past few years.  People are constantly traveling whether it be by car or plane, and air travel is certainly one of the heavy users of fuel.

The final reason there is such an increase in Worldwide Energy Demands today is due to concerns over energy security.  A majority of the time energy demands throughout the world are driven by short-term considerations including transportation needs and the weather.  However, long-term concerns have become an issue in regards to energy security around the world.  This has led to an irrational premium being paid for energy assets.  This is something that many will have to look at and consider for the future.

There are a number of different sources of energy that are causing the continuous increase and demand nowadays.  Some of the higher demands are for oil and natural gas, renewable energy, coal and nuclear energy.  For now, one can only sit back and watch as the Worldwide Energy Demands continue to increase.  There is no telling when the need and demands will die down as economies continue to grow worldwide on a daily basis.



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