[MonteQuest]

“Project Energy” Watch:

$this->bbcode_second_pass_quote('', 'N')ovember 7 – Bloomberg (Stephen Voss): “Oil consumers will be more reliant on Middle Eastern supplies in coming years and vulnerable to higher prices and slower economic growth should investments be delayed, the International Energy Agency said. Some $17 trillion in spending is expected through 2030, including $3 trillion in each of the oil and gas industries and more than $10 trillion in power plants and transmission lines, the Paris-based IEA, an adviser to 26 consuming nations, said today.”

November 7 – Bloomberg (Bill Murray): “Oil companies and governments worldwide will need to spend $487 billion during the next 25 years to keep pace with demand for products such as gasoline, diesel and jet fuel, the International Energy Agency said. Global refining capacity needs to increase by 42 percent to 118 million barrels a day by 2030, the IEA, an adviser to 26 nations, said in its World Energy Outlook 2005 report…”

November 8 – China Knowledge: “China plans to spend about US$180 billion over the next 15 years to increase its renewable energy from the current 7% to 15% of the total energy generated, said Zhang Guo Bao, Vice Minister of the National Development and Reform Commission… Besides renewable energy like solar, wind and hydro power, China also plans to develop biomass energy.”