A Rice University energy expert sees long-term growth for oil, gas and even coal—just not in the developed world, The Advertiser reports.
Speaking to the American Petroleum Institute’s Acadiana Chapter, Rice Center for Energy Studies Senior Director Kenneth B. Medlock III said energy growth may be most brisk over the next 20 years in the portions of the world that hunger for the quality of life enjoyed in developed countries like the United States, Canada and Japan.
Two billion people do not have ready access to energy, Medlock said, but they can escape poverty and enhance their quality of life by gaining it. He added that delegations visiting Rice to discuss energy are typically less enthusiastic about renewable energy than their countries are sometimes depicted.
While developing countries are demanding more cheap energy, demands for energy in developed economies are flat or declining. The future of energy, Medlock said, would depend on the countries demanding more energy.
Medlock said as gasoline prices rise in developed countries like the U.S., consumers push back with demands for greater fuel efficiency. For example, he said, the average miles per gallon for U.S. vehicles climbed from about 12.8 in 1978 to about 20 in 1990. As fuel prices rise, he said, “you think about the kind of car you drive.” That limits energy consumption in advanced countries.
