World Needs Extra $1.3 Trillion Energy Investment by 2030: JP Morgan

The research by JP Morgan contrasts with the message from the International Energy Agency, which last year said no new investment was needed in fossil fuels.

Reuters

The world needs to find $1.3 trillion of incremental investment by 2030 to boost all types of energy output and infrastructure from renewables to oil and gas to avoid an energy crunch, U.S. bank JP Morgan said in its first annual energy outlook.

“Our main finding is that by 2030, energy demand growth will exceed supply growth by circa 20% based on current trends, primarily driven by emerging economies and their efforts to develop and lift their citizens out of poverty,” strategists Marko Kolanovic and Christyan Malek said.

Investment will need to be inclusive of all fuels, including oil and gas, renewables and nuclear, with oil demand alone expected to grow by around 10% by 2030 and gas by 18%.

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