World energy issues keeping leaders up at night
Continued uncertainty in the future direction of climate frameworks, political instability of the Middle East and North Africa (MENA) region, energy price volatility, and the global economic recession are just some of the issues keeping energy leaders up at night, according to research from the World Energy Council.
The research is a "barometer" of the global energy issues driving the world energy agenda. These so-called "insomnia" issues are macroeconomic and geopolitical in nature.
"In particular, uncertainties surrounding climate framework reveal the strong desire of the energy sector to have clearer and more balanced governance," Pierre Gadonneix, WEC Chairman, said at the World Energy Leaders' Summit. "The survey also reveals the need to identify pragmatic, cost-effective, and technology-neutral policies."
Unconventional fossil fuels -- including shale gas and unconventional oil -- are considered game changers that will impact the sector for decades to come but further action is required to realize their potential, according to the research. Renewable energy and energy efficiency are also areas needing further action, as they can contribute to diversity and security of supply, as well as enabling energy access to the 1.3 billion people of the world who still do not have access.
Even with improvements in energy efficiency, global energy demand is expected to double by 2050.
- see the report