Globalization and Energy Demands in the 21st Century

According to a May 2004 report from Deloitte Research, supplying enough energy on a reliable basis at prices that will not cripple the global economic growth has become a challenge with consequences that are difficult to predict (Globalization pp). Although this will provide new opportunities for oil and gas companies, pipelines, generators, utilities and others in the energy business, it also carries serious risks (Globalization pp). The demand for energy is growing, not only in the developed economies of Europe, Japan and North American, but in developing countries as well (Globalization pp). In fact, the fastest demand growth is in China and other emerging markets, thus from one side of the globe to the other, societies are needing and demanding more fuel (Globalization pp).