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a December 2, 2004
n Current Issues
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Energy prospects after the petroleum age
• In the 1990s low energy prices seemed to suggest that energy supplies were
secure. But in the last two years surges in the price of oil, the number one
source of energy, and power outages in North America and Europe have
shown the urgent need for a renaissance in energy policy targeting secure
supply.
• At the latest when discoveries of new reserves fall short of demand – which
may be the case in just a few years for oil, and slightly later for natural gas –
energy prices will climb significantly. The supply situation is being made more
acute by the growing hunger for energy in China and India.
• This foreseeable shortage must be addressed with intelligent, future-proof
strategies. In the longer run, securing energy supplies will be possible only
with a broad range of measures. The needs of the moment call for the use of
all available levers – the diversification of energy carriers and technologies
and the mobilisation
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