Oil’s Share of World Energy Demand to Decline, DOE Says

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il's share of world energy demand will decline over the next 25 years, the Energy Department said Tuesday, as high prices spur greater use of other fuels such as coal, natural gas and renewable fuels.

In December, DOE projected worldwide oil prices would average $57 a barrel in 2030, a 35% increase from the long-term forecast it had made just a year earlier, the Associated Press reported.

In 2003, oil accounted for 38% of total world energy consumption, but by 2030 that figure will fall to 33%, DOE said.

Over that same period, coal’s share will rise to 27% from 24%; natural gas will make up 26% of consumption, up from 24%, and renewable fuels like biodiesel and ethanol will rise to 9% of total energy demand, up from 8%, AP reported, citing DOE figures.

World oil demand will rise to 118 million barrels a day by 2030, up from about 85 million barrels a day now, with more than half of the growth coming from the United States, China and India, the forecast said.