The global energy industry will have to continue to find ever cheaper energy supplies faster than ever before to keep up with rising energy demand amid a continued dependence on oil and natural gas.
I believe demand for oil and gas will undoubtedly grow. However I also thing newer, complementary energy sources will not be adequate to meet rising demand, he reasoned.
My forecast for commercial primary energy demand worldwide is estimated to increase some 51% during the 2010-2035 period. The share of fossil fuels in the global energy mix is set to slip only 5%. Oil is forecast to retain the largest share at 28% in the year 2030. The share of gas is expected to increase to 25%.