Fossil Fuels
Set To Become Relics
By Abid Aslam
30 September, 2005
One World
Energy
drawn from the wind, tide, sun, Earth's heat, and farm waste is poised
to begin replacing oil and other fossil fuels, a prominent research
group said Wednesday in a wake-up call to industry executives and government
officials worldwide.
''Energy markets
are about to experience a seismic shift,'' Christopher Flavin, president
of the Washington, D.C.-based Worldwatch Institute, said in a speech
to oil executives and energy ministers in Johannesburg, South Africa,
site of the 18th World Petroleum Congress.
''The question for
oil executives is whether you're in the oil business or the energy business.''
The conference's
5,000 participants included ExxonMobil President Rex Tillerson and Saudi
Arabian Oil Minister Ali Al-Naimi, Worldwatch said.
To be sure, oil
accounts for about 30 percent of the world's energy use while renewable
energy sources make up a slim two percent. However, according to Flavin,
the market share of renewable energy sources was growing apace.
Unlike fossil fuels,
of which there is a limited supply, renewable energy--including solar,
wind, and geothermal power and biofuels--is derived from sources that
are continually replaced.
Most renewable energies
are non-polluting. By contrast, scientists say the burning of fossil
fuels contributes to global warming, which in turn drives the increased
incidence and intensity of major storms such as hurricanes Katrina and
Rita.
Flavin spoke against
a backdrop of soaring oil prices and demand. World oil consumption increased
by 3.4 percent in 2004, the fastest rise in 16 years, Worldwatch said
earlier this year in a report citing U.N., industry, and other sources.
However, the research
group added, oil production is falling in 33 of the 48 largest oil-producing
countries. These include six of the 11 members of the Organization of
Petroleum Exporting Countries (OPEC).
In the continental
United States, the think tank said, oil production peaked at eight million
barrels per day in 1970 and fell to 2.9 million barrels daily last year.
Production of biofuels,
wind power, and solar energy are all growing at rates of 20-30 percent
per year, compared with growth rates of around two percent for oil and
gas, Flavin said.
The costs of renewable
energy were falling fast, news reports Wednesday quoted Flavin as telling
the conference. Wind power cost 46 cents per kilowatt-hour in 1980 but
now costs less than six cents.
New energy sources
are attracting roughly $30 billion in investment annually, he added,
with Brazil, China, Germany, Japan, and California leading the emerging
market.
''Already, 35 million
homes in China get their hot water from solar collectors. That is more
than the rest of the world combined,'' Flavin told the Reuters news
agency in Johannesburg.
''There are prospects
for real take-offs in solar and wind power in China, and not just hot
water for homes but in industry,'' he added. ''State-owned industries
and private companies there are investing heavily in renewables.''
Renewable sources
account for 25 percent of Sweden's energy use and 45 percent in Norway.
The United States lagged behind, with only 4.2 percent of its energy
consumption coming from renewable sources.
Energy companies
and governments were driving growth in renewables, Flavin said, with
firms including Royal Dutch Shell Group, BP, and Mitsubishi among the
major players.
Additionally, 48
countries now have policies and incentives promoting renewable energy,
he added.
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