IEA: $16 trillion in energy investment needed by 2030

The world will have to invest $16 trillion—1% of global gross domestic product—over the next 3 decades just to maintain its present level of energy supplies, said Claude Mandil, executive director of the Paris-based International Energy Agency.If current trends continue, that's what it will take to expand present supply capacity and replace existing and future supplies that will be exhausted or become obsolete by 2030, according to a new IEA study, "World Energy Investment Outlook," Mandil said Oct. 28 at the Oil and Money Conference in London. Click here to enlarge imageAccording to that study, the electric power sector will dominate future investment requirements, with ...

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