Rising energy demand from China and India has unleashed a worldwide race to secure access to scarce fossil fuel resources, a more difficult proposition with the emergence of national oil companies in the resource-owning countries.
While Western companies will likely feel the pain of increasing energy costs, there is a potential upside to global energy scarcity, according to experts from Wharton and the Boston Consulting Group: Renewable and nuclear energy present huge opportunities for investors and entrepreneurs, underscored by concern over a global stalemate surrounding curbs on carbon-dioxide emissions.
The International Energy Agency (IEA), an autonomous body set up within the framework of the Organization for Economic Cooperation and Development, says in its November 2007 World Energy Outlook that, "If governments around the world stick with current policies, the world's energy needs would be well over 50% higher in 2030 than today."
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