The IEA (International Energy Agency) says that unless we make far reaching changes to energy supplies within the next 5 years Global Warming will spiral out of control. In particular we have to stop the next proliferation of coal fired power stations that are planned for India China and anywhere else.
http://www.worldenergyoutlook.org/do...ve_summary.pdf"As each year passes without clear signals to drive investment in clean energy, the "lock-in" of high-carbon infrastructure is making it harder and more expensive to meet our energy security and climate goals," said Fatih Birol, IEA Chief Economist. The WEO presents a 450 Scenario, which traces an energy path consistent with meeting the globally agreed goal of limiting the temperature rise to 2°C. Four-fifths of the total energy-related CO2 emissions permitted to 2035 in the 450 Scenario are already locked-in by existing capital stock, including power stations, buildings and factories.
The Age offered an overview of the IEA report.
Read more: http://www.theage.com.au/business/th...#ixzz1dXnpeTnb''The door to 2C is closing,'' the IEA warned on Wednesday, in its World Energy Outlook 2011. ''If stringent new action is not forthcoming by 2017, the energy-related infrastructure then in place will generate all the CO2 emissions allowed in the 450 Scenario up to 2035, leaving no room for additional power plants, factories and other infrastructure unless they are zero-carbon, which would be extremely costly.''
Frightening, coming from the conservative advisory body relied on by the fossil fuel industry, whose data on emissions and energy is regarded as the ''gold standard'', as The Guardian reported this week under the headline: ''World headed for irreversible climate change in five years, IEA warns.''
Maybe this is the real investment direction we need to make in the next 20 years.