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Page added on November 8, 2012
OPEC sees coal use increasing in coming decades
OPEC says that fossil fuels will remain the main energy source in the coming decades with coal’s share growing and oil’s falling.
In its annual World Oil Outlook, the Organization of the Petroleum Exporting Countries also projects that a barrel of benchmark crude will cost $155 by 2035, compared with under $100 now.
The report, published Thursday, says the use of fossil fuels as a percentage of world energy use will decrease only marginally from 87 percent now to 82 percent by 2035.
It says that by then, “coal use reaches similar levels as that of oil, with oil’s share having fallen from 35 percent in 2010 to 27 percent by 2035.”
The report notes there are more coal reserves – mostly in the U.S. – than oil and gas.
3 Comments on "OPEC sees coal use increasing in coming decades"
Others on Fri, 9th Nov 2012 12:56 am
Wonderful. Finally OPEC agrees that Coal use will increase.
But here are some corrections.
* In 2000, OPEC said that $25 / barrel of Oil was fair price, today its $100 / barrel, so you can imagine how much it will cost in 2035. Certainly around $500 / barrel.
* In World’s energy production
Share of Oil = 31.8%
Share of Coal = 31.5%
* In World’s energy consumption (excluding Bio-fuels)
Share of Oil = 32.6%
Share of Coal = 30.3%
So in next 2 – 4 years Coal could overtake Oil in both production & consumption.
By 2035, Solar, Wind, Water & Nuclear will gain much bigger share and Oil will be less than 20%.
BillT on Fri, 9th Nov 2012 1:21 am
Others, I only disagree with your last statement. Solar & wind will gain some, but still be a small percentage of our energy use. Nuclear is almost dead in the water. No significant growth there and possibly a significant shrinkage. But I think climate change and a failing world economy is going to hit us hard long before 2035 and cut our energy use drastically.
Others on Sat, 10th Nov 2012 12:47 am
Mr BillT
What makes you say that Nuclear is almost dead.
More than 26 reactors are under China and many more in other countries. Hope you have seen how Category 1 Hurricane in Southern New Jersey caused so much losses as far as New York. There is no escape route, we have to use more nuclear.
http://www.world-nuclear.org/info/inf17.html