On November 12, 2014, the International Energy Agency (IEA) released its World Energy Outlook 2014 with forecasts of world energy supply and demand to the year 2040.[1] Global demand for energy is projected to increase by 37 percent by 2040 despite no growth in energy demand from the major developed nations (countries of the Organization for Economic Cooperation and Development (OECD)) throughout the forecast period. Oil, coal, and natural gas remain major energy sources throughout the forecast representing almost 75 percent of total demand in 2040, despite coal and oil demands reaching a plateau by 2040. Natural gas demand, however, increases by over 50 percent by 2040.
