Greenhouse Gas Emissions up by 52% by 2030

"Global greenhouse gas emissions will rise by 52% by 2030, unless the world takes action to reduce energy consumption, a study has warned. The prediction comes from the latest annual World Energy Outlook report from the International Energy Agency (IEA). It says that under current consumption trends, energy demand will also rise by more than 50% over the next 25 years.

The IEA adds that oil prices will "substantially" rise unless there is extra investment in oil facilities. It says the world has seen "years of under-investment" in both oil production and the refinery sector.The organisation estimates that the global oil industry now needs to invest $20.3 trillion (£12 trillion) in fresh facilities by 2030, or else the wider global economy could suffer.

"These projected trends have important implications and lead to a future that is not sustainable," said IEA chief Claude Mandil.

"We must change these outcomes and get the planet onto a sustainable energy path."

The IEA's warning comes at a time when the Kyoto climate change agreement calls on developed nations to cut their greenhouse gas emissions to 5% below 1990 levels by 2008-12. It also cautions that oil producers need to double annual investments in their oil fields or else see another £13 a barrel on the projected price of oil over the next 25 years."

- From BBC News.