Trucks consume a fifth of the world’s oil. They also use half of the diesel. Unless actions are taken, the demand from road freight is expected to grow 40% by 2050. A new report from the International Energy Agency (IEA) examines trucking in a low carbon future.
Though most of the world’s energy investments are still in fossil fuels, their iron grip is weakening. The largest source of power investment wasthe $313 billion put into alternate energy sources like wind and solar. According to Laszlo Varro, Chief Economist of the International Energy Agency (IEA), last year there were more renewables coming online than the entire growth of the energy sector. In many developing countries, wind and solar are less expensive than using imported gas to produce electricity. Laszlo Varro, Chief Economist of the International Energy Agency, described energy investments as the world transitions to a low carbon economy. Continue reading Energy Investments In A Transitioning World→