Student’s Name Instructor’s Name Course Code Submission Date Energy Demand predictions in 2040 There have been predictions that the demand for energy is set to increase in by the year 2030 (Davis). The increase can be attributed to new technological advancements and implementation of stricter policies. Although the predictions are not precise and may even be imperfect it is important to put into account that an observation of the trend can help reflect the expected scenarios in the future. In 2040 about 22 years from now a lot will have changed considering the dynamic nature of the world around us. Technologically speaking there will be a huge advancement considering the speed at which the technological innovations are taking place. There are policies that have been set up to ensure that about the climate that will directly influence the increase in the rate of energy demand and consumption can be utilized during drafting of policies. As seen in the discussion above technology economic development and fuel switching will all play a vital role in increasing the rate of energy demand by the year 2040. The increase in energy prices will lead to finding of alternative energy sources while the technology will impact energy consumption and developing countries using up more energy in developing their countries. Altogether leading to increase demand in energy. Works Cited Davies Rob. "Global Demand for Energy Will Peak in 2030 Says World Energy Council." The Guardian 14 Feb. 2018 www.theguardian.com/business/2016/oct/10/global-demand-for-energy-will-peak-in-2030-says-world-energy-council. "EIA Projects 48% Increase in World Energy Consumption by 2040 - Today in Energy." U.S. Energy Information Administration (EIA) 12 May 2016 www.eia.gov/todayinenergy/detail.php?id=26212. "Coal Demand to Remain Flat to 2022 Resulting in a Decade of Stagnation." International Energy Agency www.iea.org/newsroom/news/2017/december/coal-demand-to-remain-flat-to-2022-resulting-in-a-decade-of-stagnation.html. [...]
ECONOMICS 296AL Assignment #2 worth 10% of your final grade. Due Monday February 24 Please submit via email to me through URCourses. Assignment not submitted by email through URcourses will NOT be accepted. This will be the official submission record and time. As stipulated in the Outline, late submissions will be penalized 50% for the first day and will receive a grade of 0/10 if they are late by one day or longer. The following are all recent headlines: EIA projects 48% increase in world energy consumption by 2040 World energy demand to plateau from 2030, says DNV GL’s inaugural Energy Transition Outlook Coal demand to reaming flat to 2022, resulting in a decade of stagnation Global demand for energy will peak in 2030, says World energy Council Exxon sees oil demand down 20% in 2040; or maybe it’ll be up As discussed in class, energy demand forecasting is a venture into the unknown and therefore it is not a precise science – as the above range of headlines would seem to indicate! Consequently, the forecasts more specifically the long-term energy demand forecasts, are rarely very accurate. So, why bother? Well, as imperfect as they may be they are the guideposts helping energy planners and policy makers make decision for meeting future demand. So, given all that you know about energy demand what is your prediction for what energy demand will be/look like in 2040 (remember that is only a little over 20 years away). In other words what, in your opinion, is the most likely scenario for how the energy world will look in 22ish years. You will need to explain your answer fully based on what evidence or assumptions you are basing your analysis. For example what you think the impact of climate policies will be; public attitude; the rate of technological development and penetration; economic conditions; energy intensity, and fuel switching etc. - whatever you think will be the biggest demand drivers will be. Your assignment will be graded on the presentation of your argument in terms of the depth and quality of your analysis and assumptions, as well as the quality of the presentation (organization, spelling, grammar). The paper should be about 2-3 pages in length – following the same general guidelines as provided for the research paper in terms of font, spacing etc. ___________________________________________________ *The associated articles as well as some of the documents are posted on URCourses. Of course you can use whatever data, articles you like to inform your analysis.