-participants hear at energy discussion forum
Participants at a discussion forum on future energy outlets were told that natural gas will be the fastest-growing major fuel source through 2030, with its share of global energy rising from about 20 percent to about 25 percent. The discussion at the Ocean View Convention Centre during Mining Week was attended by Prime Minister Samuel Hinds, Minister of Transport and Hydraulics Robeson Benn, members of the Diplomatic Corps, and officials of the Guyana Geology and Mines Commission. There was a presentation on Exxon Mobil’s outlook for energy, which is a 20-year analysis of the demand and supply for fuel, more so, a forecast of long-term energy trends.
Exxon Mobil’s representatives Paul Brown and Milton Chavez, in their presentations, noted that from the findings of the company’s 20-year forecast, the developed economies of the Organization for Economic Cooperation and Development (OECD) will need energy to fuel continued economic recovery and growth.
Further, due to improved efficiency, OECD’s demand will remain unchanged through 2030. China will lead a dramatic climb in non OECD energy demand as the rising prosperity of its large population is reflected in trends such as increased vehicle ownership and higher electricity consumption, while global energy demand will increase by 35 percent, being led by rising power-generation needs.
Further, new energy-saving technologies will curb growth in both demand and emissions; all economic energy sources must be expanded to meet rising demand, including oil, natural gas and coal- which, in 2030, will continue to provide about 80 percent of the world’s energy; and natural gas, being the cleanest burning major fuel, will overtake coal as the second-largest global energy source by 2030, and nuclear and modern renewable fuels such as wind, solar and biofuels will expand significantly.

To this end, for countries to rise to the projected demand safely and with minimal environmental impact, an integrated set of solutions must be implemented which includes an expansion of all economic energy sources, as well as nuclear and renewable fuels; an accelerated gains efficiency, since better efficiency will reduce global energy demand growth by almost 65 percent through 2030, slowing growth in carbon dioxide emissions in the process and reducing carbon dioxide emissions through better efficiency.
Guyana’s Low Carbon Development Strategy (LCDS) is geared to replace its dependence on fossil fuels for electricity by adapting to the use of renewable energy sources such as hydro and solar power, with the aim of making the supply of electricity in the country more sustainable. In so doing, Guyana will be made more attractive to industrial investors.
Guyana can amass economic wealth during 2030 if it continues to implement successfully its LCDS, because, according to the presentations by Brown and Chavez, natural gas will be the second largest supplier of fuels at that time.
Because of energy’s universal importance, it is essential that not only those in the energy industry, but also leaders from across government, business and civil society, as well as consumers at large, understand the fundamental realities that govern energy demand and supply worldwide, and the prospects for meeting shared economic and environmental goals.  (GINA)