Regional Considerations
Asia and Oceania: The enormous population and economic growth is leading to the higher energy prices and shortages. According to the ADB, the Asia Pacific regional energy demand could double by 2030, by 2035 the region will consume 56% of the world’s annual energy output, and today there are about a billion people without electricity. India alone has 289 million people without electricity.
Middle East and North Africa:
Chaotic geopolitics in the region and oil price fluctuations represent serious challenges for the oil and gas producers, as they struggle to maintaining incomes from exports and to continue fostering investment from international energy companies to sustain national economic goals. Additionally, decreased demand from the global markets and competition from unconventional hydrocarbon production change the oil demand order
Europe:
The EU announced it plans to cut its greenhouse gas emissions by 40% by 2030 from 1990 levels, increase both is efficiency and renewable energy sources by 27% from 1990 levels by 2030. Currently it has reduced emissions by 18.3% since 1990, and is likely to be 25% below 1990 levels by 2020. Renewable sources account for about 13% of the EU’s overall energy consumption today and plans to increase that to 20% by 2020. Sweden has the highest share of renewable energy in total consumption at 46.8% (non-EU Norway has the share of 65%). The EU also will improve energy efficiency 30% by 2030. The new climate and green energy targets, however, do not include legally binding national targets..
Latin America:
The region increased its share of the world’s clean energy investments from 5.7% in 2011 to 6% in 2012. Brazil has been the cheapest biofuel producer for years, but it is losing its competitiveness due to the real’s rise against the dollar and the high price of sugarEcuador announced that it would refrain from drilling for oil in the Amazon rainforest reserve in return for up to $3.6 billion in payments from industrial countries. Venezuela’s Orinoco heavy oil reserves (requiring advanced production technology) are larger than Saudi Arabia’s reserves. Cuba plans to increase its renewable energy production by 12% by 2020.The Spanish-owned electric grid company was nationalized in Bolivia. Peru is promoting the use of natural gas from its new reserves discovered in the Camisea field.
North America:
Wind and solar now account for 10% of U.S. total electricity production, while total energy consumption has been slowly falling over the past five years.Google says it will run entirely on renewable energy in 2017. The world’s largest solar thermal power plant started operation in California’s Mojave Desert, and Tesla’s $3,500 lithium-ion storage battery to save surplus electricity can help expand the application of rooftop solar energy. U.S
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