DOE - World Oil Demand To Increase 52% By 2025

WASHINGTON - "Crude oil prices will increase gradually and reach $51 a barrel by 2025 due to inflation and rising energy needs in developing nations, according to an Energy Department projection.

The report by the DOE’s Energy Information Administration said strong economic growth in Asia will drive world energy prices in the next decade. The developing world’s demand for energy will nearly double by 2025 with oil, coal and natural gas leading the way.

The report projects global energy demand to grow about 54 percent by 2025. But China, India and other developing countries will see a 91 percent jump as these countries continue rapid industrial development, said the EIA.

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Coal and oil will remain dominant fuels despite concerns about climate-changing “greenhouse” gases, the report said. Emissions of carbon dioxide, the leading greenhouse gas, will increase from 23.4 billion metric tons in 2001 — the baseline used in the report — to 37.1 billion metric tons by 2025, according to the EIA projections."

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http://msnbc.msn.com/id/4739061/

Gosh, who knew that DOE was such a bunch of cockeyed optimists?

quarter about anything, until it's time to lie to the people. The stupid thing is, it could reach that price this summer, they way some people are talking. What a worthless article.