European Commission President Jose Manuel Barroso warned Monday that the international energy situation is very grave.
In his speech to the World Energy Congress in Rome, Barroso said the price of oil had soared at a remarkable pace over the past decades.
Barroso said in 1915, a barrel of crude oil could be bought at the price of 1.43 U.S. dollars, citing a report by the U.S. Bureau of Mines.
But today, oil prices have rocketed to above 98 U.S. dollars a barrel, he said.
"Global demand for hydrocarbons is increasing -- by more than 50 percent by 2030. Energy demand in developing countries is likely to double in that time," he said.
Barroso said domestic reserves in Europe are dwindling.
"This is increasing import dependence from around 55 percent of supply today to almost 70 percent by 2030," he said.
He said the global energy system required investment of more than 20 trillion U.S. dollars by 2030.
Meanwhile, he said global carbon dioxide emissions were set to rise by 55 percent between 2004 and 2030.
"We must act now, and urgently, and we must go for robust and ambitious policies to significantly reduce our greenhouse gas emissions," he said.
According to Barroso, energy and climate change are the "most important issues" for global security and development.
Source: Xinhua
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