Thread by @IEABirol

THREAD

Today we launched World Energy Outlook 2019 #WEO19, our flagship report.

Here are my key takeaways from this exceptional piece of work that provides wide-ranging insights into how today's decisions will shape our energy future.

→ iea.li/2CC8DdJ

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It's important to note that #WEO19 does not provide a forecast of what will happen.

It provides a set of scenarios that explore different possible futures, the actions or inactions that bring them about, and the interconnections between different parts of the system.

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Deep disparities define the energy world, notably the gaps between:

• The calm in oil markets & growing geopolitical tensions
• The urgency to tackle climate change & rising emissions
• The promise of energy for all & 850m people lacking electricity

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The global rise of SUVs is challenging efforts to reduce emissions.

If the appetite for heavier & bigger cars continues to grow at a similar pace to the past decade, this would add nearly 2m barrels a day in global oil demand by 2040.

→ iea.li/34TimbV

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The past century has witnessed multiple transitions to & from different fuels & technologies.

The challenge today is one of scale: global energy use is 10 times higher than in 1919 ... and still growing

→ iea.li/2CC8DdJ

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The dramatic growth in recent years of US shale production is set to slow, but the resources exist to maintain high output for many years to come.

This dynamic provides a strong counterweight to efforts to manage oil markets.

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Over the next two decades, developing countries in Asia - led by China - account for half the growth in global gas demand and almost all the increase in trade, mostly in the form of liquefied natural gas (LNG).

→ iea.li/2CC8DdJ

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With a rapidly rising population & a major switch away from the traditional use of biomass, Africa is set to emerge as a major source of global growth for solar, wind, oil & natural gas.

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The global power mix is being reshaped by the growth of solar, wind & natural gas. In 2040, renewables are set to account for nearly half of total electricity generation, based on today's stated policies.

→ iea.li/34TimbV

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The rise of wind & solar has major implications, placing electricity at the heart of energy security.

Global power systems' needs for flexibility are set to double by 2040, but today’s market designs may not bring enough investment to meet those needs.

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Investment in carbon capture, utilisation & storage (CCUS) will be critical to ensure that the young global coal fleet is in line with climate targets.

Repurposing coal plants to provide flexibility can reduce CO2 & air pollution and help integrate renewables.

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What comes through with crystal clarity in #WEO19 is there is no single or simple way to transform global energy systems.

Many technologies & fuels have a part to play across all sectors of the economy.

For this to happen, we need strong leadership from governments.

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The world urgently needs to put a laser-like focus on reducing emissions. This calls for a grand coalition spanning governments, investors, companies & everyone who is committed to tackling climate change.

Our Sustainable Development Scenario can help guide these efforts.

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PS. There's a whole lot more content online 👇

Explore the key findings: iea.li/2CC8DdJ
Explore findings by fuel: iea.li/34TimbV
Read about our scenarios: iea.li/36ZoMrR
Watch the launch press conference live at 11 CET: iea.li/2NJZJRK