The changing global energy landscape

Please refer to this report for he executive summary of the International Energy Agency’s just-released World Energy Outlook 2012: http://www.worldenergyoutlook.org/.  Here are a few of the oil and natural gas highlights, most of which involve China:

China, India and the Middle East will account for 60% of the increase in global energy demand to 2035.

The United States is projected to become the world’s largest oil producer around 2020, overtaking Saudi Arabia until the mid-2020s.

North America is projected to become a net oil exporter around 2030, which will accelerate the shift in the direction of international oil trade toward Asia.

Iraq will make the largest contribution to global supply growth to 2035 and will become a key supplier to Asia, especially China.

Unconventional gas will account for half of the increase in global gas production to 2035 with the United States, China and Australia providing most of the increase.