Opec has made a scathing attack on a report from the International Energy Agency which says that the world's existing oil producers face a “huge challenge” to keep up with a projected rise in global demand. This year's World Energy Outlook report slashed its assessment of how much oil the world would be able to produce by 2030 by ten million barrels to 106 million per day and placed more emphasis than ever before on the need to develop alternatives.
Speaking at the London launch of the IEA's 2008 World Energy Outlook report on 12 November, Nobuo Tanaka, the agency's executive director,said that “current trends in energy supply and consumption are patently unsustainable - environmentally, economically and socially - they can and must be altered”. He added that an “energy revolution” was needed urgently to meet surging global demand, which he predicted would soar by 45 per cent by 2030 while also adopting low-carbon sources of power to prevent catastrophic climate change.
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