The International Energy Agency (IEA) released today the current edition of Energy technology Perspectives (ETP), which stated that the nations of the world need to dramatically altern their current energy policies. A press release from the IEA stated:
Our current path is not sustainable: If governments around the world continue with policies in place to date the underlying premise in the ETP Baseline scenario to 2050 CO2 emissions will rise by 130% and oil demand will rise by 70%. This expansion in oil equals five times today's production of Saudi Arabia.
No single form of energy or technology can provide the full solution. Improving energy efficiency is the first step and is very attractive as it results in immediate cost savings. Significantly reducing emissions from power generation is also a key component of emissions stabilisation. But even this is not enough.
CO2 capture and storage, renewables, nuclear energy and energy efficiency - all must play a much more important role. New insights from this study include recognition of the important role for CO2 capture in industry, the potential for electrification of end-use sectors in combination with CO2-free electricity, the need for further development of solar electricity, and the importance of second generation biodiesel.

The report comes on the same day that the U.S. Senate failed to pass, or even vote on, the almost 500 page Climate bill which had been underconsideration. NPR reports today that "Senate backers of a sweeping climate change bill failed to win enough support on Friday to end debate on the measure, effectively killing the measure for the rest of the year. [...] The Senate debate focused on bitter disagreement over the expected economic costs of putting a price on carbon dioxide, the leading greenhouse gas that comes from burning fossil fuels. Opponents said it would lead to higher energy costs."

You can learn more about the issues in our Climate Change and Energy Issue Papers. Share your views in our Forums.