House Natural Resources Committee

Energy and Mineral Resources Subcommittee

Energy Outlooks, and the Role of Federal Onshore and Offshore Resources in Meeting Future Energy Demand

1324 Longworth
Thu, 05 Mar 2009 19:00:00 GMT

Witnesses
  • Dr. Fatih Birol, Chief Economist, International Energy Agency
  • Dr. Howard K. Gruenspecht, Acting Administrator, Energy Information Administration
  • Brenda Pierce, Program Coordinator, Energy Resources Program, U.S. Geological Survey
E&E News:
The hearing is expected to review the International Energy Agency’s 2008 World Energy Outlook, which explores global supply and demand needs for the next two decades, as well as the federal Energy Information Administration’s Annual Energy Outlook that projects U.S. energy trends.

The EIA projects that world energy demand will rise 45 percent between 2006 and 2030, with fossil fuels accounting for 80 percent of the world’s energy mix at that point.

The agency warned that more than $26 trillion in worldwide investment will be needed and that does not include what the agency has said will be trillions more in investment needed to avert runaway greenhouse gas emissions with steps to de-carbonize the power sector and other measures.