The problem of matching supply and demand will worsen as utilities increase the supply of green energy under mandates like California's, which requires 20% renewable electricity by 2010.
But when combined with other factors affecting demand and supply, the concept of energy independence comes into view over the next couple of decades.
"Considering the rapid depletion of the world's oil reserve, the heightened global interest in addressing greenhouse gas emissions and the geopolitical complications of global oil supply and demand, " a report by the U.S. Department of Energy concluded.
But the gas suppliers argue that higher gas prices are due to normal market forces of supply and demand, together with globally higher energy costs.
Maybe the world continues its trend of becoming less energy intensive, mitigating demand and alleviating supply pressure .
With energy, the kernel of truth is that worldwide supply and demand for oil is roughly in balance for the moment.
If North America launches a plan to supply an ever-larger share of that demand, it would immediately soften and moderate global energy prices.
Look, I worked on the 2003 Natural Gas Supply and Demand study conducted by the National Petroleum Council at the request of the Secretary of Energy.
The demand for energy in the form of electricity and fuel is larger than its current supply in several parts of the world, particularly in developing countries.
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Of course, more distributed generators contributing variable renewable energy to the grid means an increasing challenge to regulate the consistency of supply and demand.
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"Given that world energy demand, and more particularly electricity demand, is increasing strongly, we need sources of electricity supply that are safe, affordable, with abundant fuel and are environmental benign, " he said.
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