No shortage of global energy resources: World Energy Council
Sydney (Platts)--8Sep2004
There is no shortage of global energy resources, the World Energy Congress in Sydney heard early Wednesday. Alessandro Gerici, chairman of the World Energy Council's Survey of Energy Sources Committee, said the reserve to production ratio was 40 years for oil, 60 years for gas and 200 years for coal. But there is an uneven distribution of strategic reserves throughout the world, with consumption areas not always coinciding with production areas, he said. Environmental issues would also play a strategic role in sustainable development, Gerici said. He added that there would be a substantial increase in non-hydro renewable sources of energy, but their total share would be only about 5% in 2030, with wind and bioenergy the leading players.
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