Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

£10.4bn needed to stave off global energy crisis

Decades of underinvestment in basic energy infrastructure has set the globe on a 'doomed' path that only £10.4 trillion of new investment can solve, energy experts claimed this week.
Frequent blackouts and huge spikes in energy prices will result from a dirty, insecure and expensive global energy market, the International Energy Agency (IEA) warned at the launch of its World Energy Outlook 2006 in London this week.'This energy future is not only unsustainable, it is doomed to failure because of underinvestment in basic energy infrastructure,' said IEA chief executive Claude Mandil.'We are on course for an energy system that will evolve from crisis to crisis. This can mean spikes in prices, frequent blackouts, abject energy poverty or all of these,' he said.The World Energy Outlook is published annually by the IEA and makes predictions and recommendations on energy issues up to 2030. The IEA found that enacting all 1,400 existing government policies would secure energy supplies at a cost of £10.4 trillion. Alternatively, for the same cost, emissions could be cut by 40% by introducing a set of policies described as 'the clean dozen'.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.