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To meet the energy demand of all households worldwide, energy supplies must double by 2050. This is the most important finding of WEC’s Energy Policy Scenarios to 2050. This may sound like a tall order, but there are enough energy resources around the world to satisfy the energy demand over the next forty-plus years. The challenge will be how to get these resources and energy services from where they are produced to the places that have the greatest need for them. The second most important finding is that while fossil fuels will continue to account for the largest proportion of primary energy requirements through the next four decades, we can not only double world energy supplies and improve access but also effectively manage greenhouse gas emissions and address climate change. The main driver to address this dual challenge will be higher energy prices. Higher prices will propel the developed world towards greater energy efficiency and attract much higher levels of capital investment in infrastructure. But massive new levels of public and private investment in research, development and deployment of clean and more efficient technologies are also urgently needed. Governments must do their part by establishing global rules of energy trade and setting a stable price for carbon that is clearly understood by markets and investors. Government engagement in these and other areas must be encouraged while much deeper cooperation and integration within and among regions of the world, and between the public and private sectors is essential.


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