Instability risk as energy demand soars

IT IS wrong to assume we are living in the age of oil. Age refers to a period of long duration. Analysts say we are living in a brief oil interval and that reserves are finite. The good news is that there is plenty of oil and gas in the ground to meet demand until 2030 and well beyond.

The bad news is that the world’s reliance on oil and gas is set to increase sharply as global energy demand soars in the next 30 years.

Emerging economies such as China and India are driving what the International Energy Agency says is the biggest increase in oil demand for 24 years. Demand from China is up 20% over the past year.

scotsman