Adapting to Changes in World Energy

According to the IEA’s World Energy Outlook 2012, global energy demand is expected to increase by more than a third by 2035, with China, India and the Middle East accounting for 60 percent of the growth, and more than outweighing reduced demand in developed economies.

The IEA also foresees the US replacing Saudi Arabia as the world’s largest oil producer by 2020, with North America becoming a net oil exporter by 2030. The region’s new role in world energy markets is likely to drive a change in the international oil trade toward Asia, and highlight the importance of securing supply routes from the Middle East to China and India, who are set to account for 60 percent of the 30 percent increase in global energy demand between now and 2035.