World Energy Outlook

For other uses, see WEO (disambiguation).

The annual World Energy Outlook is the International Energy Agency's flagship publication, widely recognised as the most authoritative energy source for global energy projections and analysis. It represents the leading source for medium to long-term energy market projections, extensive statistics, analysis and advice for both governments and the energy business. It is produced by the Office of the Chief Economist, under the direction of Dr. Fatih Birol.

Using a Reference Scenario based on no change in current policies, it enables policy-makers to evaluate their current path. The WEO has also developed an alternative scenario that puts the global energy systems on a trajectory to stabilise greenhouse gas emissions in line with limiting the increase in temperature to 2°C.

In even-numbered years, WEO presents detailed projections of energy demand, production, trade and investment, fuel by fuel and region by region. It also puts the spotlight on several topical issues:

The 2005 [1] edition presents a detailed assessment of energy prospects throughout the Middle East and North Africa region and the implications of these for world energy markets; The 2007 [2] report presents a special focus on China and India and analyses the impact of rising energy use in these countries on the international energy markets and energy-related greenhouse gas emissions; The 2008 [3] edition focuses on two pressing issues such as prospects for oil and gas production and the post-2012 climate scenarios; The 2009 [4] edition presents in-depth analysis of three special topics: Financing energy investment under a post-2012 climate framework; prospects for global natural gas markets and energy trends in Southeast Asia.

The 2010 WEO edition, released on 9 November 2010, presented for the first time in its history a scenario that takes account of the recent commitments that governments have made to tackle climate change and worsening energy insecurity. It also puts the spotlight on several topical issues, including the outlook for renewable energy technologies and unconventional oil, the implications of climate policies, Caspian energy prospects, energy poverty and energy subsidies.

The 2011 report was issued on 9 November 2011. The executive summary noted that there were "few signs that the urgently needed change in direction in global energy trends is underway."

"The World Energy Outlook illustrates the continued dominance of oil for transportation," said Richard Newell, associate professor of energy and environmental economics at Duke University. "Even as mature economies moderate oil demand through efficiency and biofuels, emerging economies' oil demand for transport grows by almost 50 percent. The bottom line is, like it or not, we should be prepared for price swings at the pump for some time to come."

World Energy Outlook 2012

Fatih Birol, Chief Economist of the International Energy Agency (IEA) designed and directed the study which was prepared by the IEA's Directorate of Global Energy Economics of the International Energy Agency and other offices of the Agency.

Global energy trends

Based on the New Policies Scenario, the central model used by the OECD's International Energy Agency, in Part A entitled Global energy demands, on the emerging global energy landscape, over the period to 2035, global energy demand would increase by more one-third with China, India and the Middle East accounting for 60 percent of that increase.

Focus on energy efficiency

Part B

Iraq energy outloook

In Part C of the study

The WEO received numerous awards [5] from governments and energy industry for its analytical excellence.

See also

• Energy: world resources and consumption
• World Energy Forum

External links

• The World Energy Outlook
• The International Energy Agency
• Articles on energy in the OECD Observer
• World Energy Outlook 2007: “Everything is Getting Worse” Interview with Fatih Birol, IEA Chief Economist