The world needs more energy and less CO2

23Oct
2007

Speaker: Bill Spence, Vice President CO2

Energy is the fuel for economic growth and an essential requirement for social development. Between now and 2050, as the world population increases and developing countries expand their economies, energy demand could more than double ! To meet this demand and to manage the consequences represents a huge challenge. When it comes to the future of energy the world needs a reality check. Contrary to public perceptions, renewable energy is not the silver bullet that will soon solve all our problems. Renewable Energy today represents about 1% of the global energy mix. Of all the energy we use every day, more than half is wasted. Becoming twice as efficient in our use of energy by 2050 is entirely feasible, provided the will is there. In our battle against greenhouse gas emissions, taking CO2 out of fossil fuels, especially coal, is crucial.

We must act today to put the right policies in place and start the transition from a high-carbon world to a low-carbon world, while maintaining energy security for all. Royal Dutch Shell is actively supporting ways to reduce the costs and risks, and gain the support of policymakers and the public across the continents.