The IEA’s latest long-term forecasts highlights the growth of unconventional oil and gas, especially in North America, but does not see this leading to much lower oil prices. In their main scenario fossil fuels will still meet more than three-fourths of the world’s energy needs by 2035, despite significant growth in renewable energy. The International Energy Agency (IEA) released its latest World Energy Outlook (WEO) in November, looking twenty-plus years into our energy future. The trends it describes add nuance and detail to last year’s projections , rather than upending them.  Among other things they advance the expected date of global oil production leadership by the US to 2015 but suggest these gains may be short-lived and will not lead to “cheap oil.”  The IEA also envisions a reshuffling of the traditional roles of energy importing, exporting and consuming countries, against a backdrop of steadily increasing energy-related […]