In Europe the bell tolls for energy

Last week 51 experts and representatives of oil giants from across Europe gathered for three days to discuss the continent’s energy challenge at a Wilton Park Conference in England. The original aim of Wilton Park Conferences, the first of which was realized by Winston Churchill 61 years ago, was to create a more democratic England. Today, it is an event where not only England’s but the whole world’s problems are addressed.

Energy experts determined there is a need to find solutions to the following scenarios: a 50 percent increase in energy demand by 2030, China opening a new coal-operated power station every week, Europe’s growing dependence on Russian oil, and an ever-warming earth mainly due to fossil fuel consumption. These challenges brought representatives of oil giants along with civil society and government experts under one roof in Steyning.
The Wilton Park conference forbids the attribution of quotes to the participating speakers. This enables speakers to express themselves freely. The passages below are attributed to the speakers and the views expressed are theirs. According to this year’s conference, the energy crises on the horizon will be much different from those the world has seen in recent centuries.

The demand for energy is rising around the world. The leaders in this area are Asian countries, with China and India as the principle players. On the other hand, even though demand in Europe and northern America has been increasing more gradually, with their already-high consumption rates, these Western countries are afraid of becoming dependent on foreign oil. Fifteen years from now, the European Union will be reliant on external resources in all forms of energy. This, in return, brings about disputes like the one between the EU and Russia, or more precisely, the EU and Gazprom – a dispute that made its mark on the conference. The EU is asking for lower prices and trade under free-market conditions while making plans for exploring its resources in North Africa. The rise in the popularity of liquid natural gas (LNG) will be inevitable.

The total time current energy resources will last is estimated to be 40 years for oil, 67 for natural gas, and 160 years for coal.

Turkish Daily News