International Energy Agency - World Energy Outlook

The Oil Drum has posted a commentary about the International Energy Agency's (IEA) annual World Energy Outlook.  The commentary includes the summary Power Point page, which does not paint a pretty picture.  All those folks looking for renewables to take over for power generation will have to face the economic facts of life; natural gas will continue to be cheap enough to limit investment in renewables.  Regardless, the price of oil (the primary source for transportation fuels) will rise.  It won't matter if demand is down in the USA, it is going higher in China and India, and China is buying up all the resources it can.  There are no renewables on the horizon that can substitute for gasoline and electric cars simply don't have the range that ICE (internal combustion engine) vehicles do.  The next couple of decades are going to get real interesting.