IEA 2013 Report: Fossil Fuels Remain 82% of All Fuel Sources

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Coal remains the largest fuel feed source for power generation globally, with strong growth in non-OECD (Organization for Economic Cooperation and Development) countries, which far outweighs reductions in OECD countries.

The International Energy Agency's (IEA) 2013 World Energy Report says that the increase in demand for fossil fuels in developing countries, led by China and India, means the current demand for fossil fuels, which is 82% of all fuel sources, is the same as it was 25 years ago.

China and India's surging energy demand will have a massive transformative impact on world energy markets, particularly in Australia and the U.S.

On account of the growth of coal, renewable energy sources are only expected to reduce the demand for gas, coal and oil to a 75% market share in 2035.

But in North America, Australia and a major part of Europe, the market share of fossil fuels--such as natural gas, oil and coal--will fall from 68% in 2011 to 57% in 2035. In terms of total power generation, there are positive signs for renewable energy, with its share rising from 20% in 2011 to 31% in 2035.

The U.S. is expected to become the top supplier of natural gas to Southeast Asia, ahead of Europe and Japan. Natural gas in the U.S trades at 33% of import prices to Europe and 20% to those in Japan, giving U.S producers a significant advantage, says the IEA report.

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