The World needs $48 trillion of investment by 2035 to keep the lights on says IEA, but there is little said about the conditions that would make it necessary.
To learn what it is all about, you really need to download the report. You can get this from the IEA website:- “World Energy Investment Outlook”, WEIO2014.pdf.
Looking through the report itself, it quickly becomes evident that it has been misreported. The phrase “adequate energy to meet rapid population growth.” is an addition on the part of the article’s author, Andrew Critchlow, and it is very remiss of him not to make that clear.
A search for the world “population” in the report itself drew a complete blank!
Furthermore, the article gives the impression that there was only one outcome considered by the IEA, but this proves also not to be the case. Various scenarios were considered, including low carbon.
It seems likely that the involvement of private companies will increase, as governments will have difficulty finding the sort of sums required.
“Meanwhile, the cost of generating electricity in Britain is expected to surge as investment into new generating capacity increases. Last year the Government signed a deal with international partners for the construction of a new £16bn nuclear plant at Hinkley Point, the first commissioned in the UK since Sizewell B in 1995.”
“The IEA’s Mr Birol had told the Telegraph last year in an interview that Britain would be wiser to invest more into developing its nuclear power capacity than opening up areas of the country to fracking.”
I wonder if Cameron got that message?
If the world population increase is going to prove to be such a problem, then it would make sense to invest more money in trying to stabilise it.
On a personal note:-