It is clear that oil production will peak in the near future and will start declining thereafter. Since oil comprises the largest share of world energy consumption, a reduction in availability of oil will cause a major disruption unless other resources can fill the gap. Natural gas and coal production may be increased to fill the gap, with the natural gas supply increasing more rapidly than coal. However, that will hasten the time when natural gas production also peaks. Additionally, any increase in coal consumption will worsen the global climate change situation. Although CO2 sequestration is feasible, it is doubtful that there will be any large-scale application of this technology for existing plants. However, all possible measures should be taken to sequester CO2 from new coal-fired power plants. Presently, there is a resurgence of interest in nuclear power. However, it is doubtful that nuclear power alone will be able to fill the gap, apart from the technical, social and political problems. Forecasts from IAEA show that nuclear power around the world will grow at a rate of 0.5-2.2% for the next 25 years. This estimate is in the same range as that of IEA.
Based on this information it seems logical that the Renewable Energy Technologies of Solar, Wind and Biomass will not only be essential have to provide a clean and sustainable energy future. Although wind and photovoltaic power have grown at rates of over 30%-35% per year over the last years, this growth rate is based on small existing capacities at the moment.
There are differing views on the future energy mix. The German Advisory Council on Global Change (WBGU) estimates that as much as 50% of the worlds primary energy in 2050 will come from Renewable Energy, increasing to 80% by 2100.
To achieve that level of Renewable Energy Use by 2050 and beyond require that all countries are developing the maximum level of Renewable Energy possible.
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