IEA says global ‘energy revolution’ needed to cut greenhouse gases in half by 2050

(Photo of wind turbines in Italy from Flickr and photographer gorillaradio/Sebastiano Pitruzzello)

News Update 1: A worldwide “revolution” in the way we use energy is needed in the next 40 years, the International Energy Agency said last week. The cost will be $45 trillion, the agency said. But failure to act will result in an energy shortage and a slowdown in the global economy. Massive changes will be needed on a worldwide basis, including:
• Retrofitting 35 coal-fired plants and 20 natural gas plants each year to capture and store carbon dioxide.
• Building 32 nuclear plants a year.
• Installing 17,500 new wind turbines a year.
• Increasing solar energy and second-generation biofuels that won’t compete with food.
One of the most challenging changes will be to drastically reduce fossil fuel use for transport, at a time when auto and plane use is skyrocketing in developing nations. Oil demand needs to be cut to 27% of 2005 levels, said the agency, which advises 27 nations on energy policy. The task at hand is gargantuan, but without it oil demand will likely grow 70% and GHG emissions will increase 130% by mid-century, IEA said. The impact would be calamitous, with more severe droughts, famines, floods and rising seas that engulf coastal cities. IEA urged the G-8 to endorse the goal to reduce GHG in half by 2050 at its meeting in July. (Sources: Greenwire, New York Times)