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Mapping The Markets by Robin Griffiths, Deborah Owen

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7 Energy

The world’s demand for energy will rise sharply over the next two decades. The International Energy Agency forecasts that consumption of energy will double by 2030. Not only will the catch-up economies require vast amounts of power to effect their economic transition, but western countries’ increasing reliance on ever more sophisticated technology will also underpin a steady rise in demand for energy.

There are two problems with the world’s dependence on fossil fuels. The obvious one is that they will eventually run out. Previous alarms about exhausting supplies have proved premature as increasingly sophisticated equipment has led to more oil reserves being discovered, and the rise in the price of oil in recent years has made it ...

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