Speakers at the World Future Energy Summit (WFES) 2011 Technology Forum urged energy producers and technology innovators to join forces to meet worldwide energy needs as global demand for energy continues to grow, with current energy levels now the equivalent of 40 light bulbs running continuously for every person on earth.
Opening yesterday’s proceedings with a keynote address, Sarah Ortwein, President, Upstream Research Company, Exxon Mobil USA, said: “I believe this is a very appropriate time and a very appropriate place to discuss the importance of technology in meeting worldwide energy needs. The global economy is seeing signs of recovery and global populations around the world continue to seek higher standards of living. And that means that global demand for energy will continue to grow.
“Our generation faces an enormous challenge meeting the basic energy needs of future generations in an economically and environmentally responsible way. Today, the world uses 15 billion BTUs [British Thermal Units] of energy every second. That is the equivalent of 40 light bulbs running continuously for every person on earth. And that includes the 1.2 billion people on earth who do not have any access to electricity.
60% of energy still from fossil fuels in 2030
“The growing economy and the growing population are closely related to growing energy demand. In fact, most estimates of global energy demand predict that we will use about 25% more energy in 2030 than we did in 2005. And, in the year 2030, about 60% of our energy will still come from oil and gas.
“To make progress, we must continue to develop all renewable fuel sources, improve the way in which we consume energy and address the environmental challenges. Integrated technology plays an equal role in addressing this challenge: it increases efficiency, it can reduce environmental impact, it can improve safety and it can enable access to new forms of energy.
Yesterday’s Business Forum delegates also heard from Mark Vachon, VP, Ecomagination, GE USA, during the Innovators Keynote Address. Mr Vachon explained, “The perception is that it costs to do the right thing. But, thanks to design and technology innovations, we don’t have to choose between economic performance and environmental performance any longer. In fact, through our own design innovations at GE, we have already saved $130 million. And we can translate this into an $840 million annual fuel saving for our customers.
“Collaboration and the sharing of ideas are key for the future energy industry, and with the right partnerships, innovation will bloom. The key elements to remember are that: clean energy remains a growth industry; it’s about leadership through innovation; it’s about growth, competitiveness and decreasing emissions; big and small companies can win; and partnering can accelerate faster results.
“With these in mind, the world is at a defining moment and we have a unique opportunity to advance the future of renewable energy.”
The Technology Forum also included a panel discussion with key industry leaders and CEOs, entitled, Technology Leaders in Future Energy – Insights from the Innovators. In the afternoon concurrent sessions were held with innovators in the fields of solar technology, energy storage, biofuels, hydrogen, smart grids, research & education, CCS and nuclear, in which they discussed the challenges and opportunities presented by new and developing renewable energy technologies.
Speaking about the role that Abu Dhabi is playing in the future of renewable energy, Sarah Ortwein added, “Abu Dhabi’s visionary leaders should be congratulated for their progressive approach. Here in Abu Dhabi, the driving force has been the leadership, and leaders know how to make things happen. Masdar and the World Future Energy Summit are two examples of very creative and co-operative ways of ensuring the future energy balance.”
The World Future Energy Summit in Abu Dhabi ends today.
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