UN report: Bull market for coal, natural gas

If you’re an enviro, you may want to figure out which anti-depressant works best for you.

Bloomberg reports,

Energy will become “viciously more expensive” and polluting if governments don’t promote renewable and nuclear power in the next two decades instead of burning coal, the International Energy Agency said.

Global demand for energy is set to increase 40 percent by 2035, the Paris-based agency said today in its annual World Energy Outlook report. Consumption will rise 1.3 percent a year to 16.96 billion metric tons of oil equivalent in 2035, spurred by China and other emerging economies, the IEA said…

Natural gas is the only fossil fuel for which demand rises under all three of the IEA’s scenarios, increasing its demand forecast by as much as 5.1 trillion cubic meters a year by 2035 from about 3.1 trillion in 2009.

As nuclear power and renewables are going nowhere soon, fossil fuels remain the future.

Read the Bloomberg report.