IEA warns against fossil fuel subsidies and the cost of nuclear power

(EurActiv, 14 Nov 2014) In its 2015 World Energy Outlook, the International Energy Agency expressed its concern at fossil fuel subsidies, the dismantling of nuclear power stations and the 80% increase in demand for electricity by 2040.

The International Energy Agency (IEA) has released its annual publication, in which it expresses its concern at the trend in hydrocarbon consumption, which continues to rise in response to the increasing demand for electricity.

The planet's electrical demand could grow by 40% by 2040, but despite falling oil prices, supplies of coal, oil and gas are not indefinite. The continued use of hydrocarbons is speeding up global warming: the IEA predicts that average temperatures will rise by 3.6°C if we do not reduce the current rate of greenhouse gas emissions.

The strain on resources will also have a knock-on effect on energy prices. Europe's plans to reduce its reliance on hydrocarbons may lead the continent's energy prices to become the highest in the world by 2040, according to the IEA.

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EurActiv, 14 Nov 2014: IEA warns against fossil fuel subsidies and the cost of nuclear power