Report: World Energy Demand To Surge

According to CNN Money, due to an expanding population and rapid economic growth, a government report said that world energy use is expected to surge by 50% from 2005 to 2030.  Energy Information Administration’s (EIA) report said demand for energy is led by the developing world.

While developed countries are expected to see a 19% increase in energy use, demand for energy in the developing world is expected to surge an amazing 85%.  World oil use is expected to grow to 99 million barrels a day in 2030, from about 85 million barrels a day currently, as high prices would ultimately limit demand.