Fossil Fuels Will Still Provide 75 Percent Of Energy In 2040, Despite Trillions In Green Subsidies
The world will use 48 percent more energy by 2040, three-quarters of which will come from coal, oil or natural gas, according to projections made Thursday by the U.S. Energy Information Administration (EIA).
The report states that most of the world’s new energy use will come from developing countries, particularly China and India, and most of the 75 percent of that energy will be coal, oil or natural gas. Only a relatively small percentage of the world’s energy will come from wind and solar power despite massive subsidies, contrary to the claims from environmental groups like The Sierra Club.
Natural gas is the fastest growing source of energy according to the report, as coal use is projected to shrink in America and Europe and grow only modestly in the developing world.
Source: Energy Information Administration
The EIA projects natural gas and oil will have the most growth, largely due to the development of hydraulic fracturing, or fracking, in America.