Falling oil prices threaten global industries
Translation - Khalid Qasim
displays the drop in oil prices to undermine reduce greenhouse pollution to rising temperatures worldwide efforts, especially projects aimed to benefit as much as possible from every barrel of oil, also concluded that the International Energy Agency in its annual assessment of the market.
If the cost of crude oil continues to near $ 50 a barrel until the end of the decade, the cheap traditional fuel sources will inhibit electric cars and biofuels, which helps to restrict carbon emissions development. The agency expects the loss of almost $ 800 billion in the form of improvements in cars, trucks and aircraft efficiency.
These results illustrate the complexity of the UN mission to ensure the historic agreement on reining in fossil fuel emissions by the end of this year. While helping low-lying world oil prices to recover from the recession, but it raises competitive pressure on technologies such as wind, sun and make some of the projects you need even longer time to bear fruit. Drop in prices according to Paris-based agency in its annual World Energy Outlook: «low-cost is not always good to consumers. Vfterat repayment of long means that the world is losing about 15 percent of the savings of energy. »Coincided oil retreated from the peak prices that exceeded $ 140 a barrel in 2008 with declines in oil and natural gas prices, are all major sources of fuel for power generation, which competes with the wind and the sun. Making cheaper gasoline at the pump oil supports the factory from crops such as sugar cane biofuels account and corn. Greatest influence on the actions is aimed at making energy consumption more efficient. Says the International Energy Agency that these measures have a significant effect on aggregate demand, and provided a hint puzzling about the separation of the relationship between carbon dioxide emissions and economic activity. Perceives expectations this year that demand will rise by one-third between 2013 and 2040, with a weak link between growth and pollution levels . China and India joined the United States and the European Union in the implementation of the rules of efficiency. Renewable Energy Agency report says: «prices low oil alone does not greatly affect the deployment of renewable energy technologies in the electricity sector, if the decision-makers continued stability in the provision of what is necessary from the market rules, policies and subsidies . »Renewable energy sources accounted for about half the new investment in the past year to generate electricity and will coal exceed the largest generator of electricity, less than twenty years, and controls 50 percent of the market in the European Union in 2040 and 30 percent in China and Japan and 25 percent in America and India. help those investments to stop increasing global temperatures at 2.7 degrees Celsius by the end of the century present. Red Andberg / site Bloomberg Business
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