07-06-2012, 07:43 AM
Yes, it's a structural trend:
- Economic growth
- Population growth
- Growth of middle class, with much more energy intensive life style
- Urbanization/industrialization problems (pollution, climate change)
All conspiring in favor of gas (and renewables), it's not just demand growth for energy persé, but substitution from more expensive and/or dirtier fuels.
For instance, middle class people have a much more energy intensive life style, traveling by car or motorcycle, instead of bicycle or train, having house appliances, perhaps even airco, eating way more meat (which needs 8x the resources to produce the same caloric intake as grains), etc. etc.
- Economic growth
- Population growth
- Growth of middle class, with much more energy intensive life style
- Urbanization/industrialization problems (pollution, climate change)
All conspiring in favor of gas (and renewables), it's not just demand growth for energy persé, but substitution from more expensive and/or dirtier fuels.
For instance, middle class people have a much more energy intensive life style, traveling by car or motorcycle, instead of bicycle or train, having house appliances, perhaps even airco, eating way more meat (which needs 8x the resources to produce the same caloric intake as grains), etc. etc.