Worlds energy trauma

What impact will the return of high energy prices have on the fragile economic recovery? Will geopolitical unrest, price volatility and policy inaction defer investment in the oil sector and amplify risks to our energy security? What will renewed uncertainty surrounding the role of nuclear power mean for future energy and environmental trends? Is the gap between our climate actions and our climate goals becoming insurmountable?

To meet the challenges of energy security and climate change
as well as the growing energy needs of the developing world,
a global energy technology revolution is essential.

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The energy world faces unprecedented uncertainly. The global econominc cirsis of 2008-2010 threw energy markets around the world into turmoil and the pace at which the global economy recvovers holds the key to energy prospects for the next several years. But it will be governments, and how they respond to the twin challenges of climate change and energy security, that will shape the future of energy in the longer time.

The economic situation has improved considerably over the past 12 months, more than many dared to hope for. Yet the economic outlook for the coming years remains hugely uncertain, amid fears of a double-dip recession and burgeoning government budget deficits, making the medium –term outlook for energy unusually hard to predict with confidence.

The past year has also seen notable steps forward in policy making, with the negotiation of important international agreements on climate change and on the reform of inefficient fossil subsidies. And the development and the deployment and incentives that governments around the world introduced as part of their fiscal stimulus packages. Together, these moves promise to drive forward the urgently needed transformation of the global energy system. But doubts remain about the implementation of recent policy commitments.

Even if they are acted upon, much more needs to be done to ensure that this transformation happens quickly enough. The outcome of the landmark UN conference on climate change held in December 09 in Copenhagen was step forward, but still fell acre long way short of what is required to set us on the path to a sustainable energy system.

What will the price of oil mean for the fragile economic recovery? Will factors including geopolitical unrest, price volatility and policy uncertainty defer investment and heighten the risk to our energy security? Is the gap between our climate actions and our climate goals becoming insurmountable? World Energy Outlook 2011 tackles these and other pressing questions.

The latest data, policy developments, and the experience of another remarkable year, are brought together to provide robust analysis and insight into global energy markets. WEO-2011 once again gives detailed energy demand and supply projections out to 2035, broken down by region, fuel, sector and scenario.

"Vision without action is a daydream. Action without a vision is a nightmare"

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