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You are here: STEP trends | Economic | Competition for Natural Resources and Traditional Energy Sources
STEP trends | Economic 
Competition for Natural Resources and Traditional Energy Sources
Concept
  • As long-term economic growth accelerates, especially in Emerging
    Markets such as the BRIC countries, and despite the current economic
    downturn
    , we are using natural resources and energy sources at
    increasing rates. This leads to increasing competition over needed
    resources such as oil, water, energy, grain, and raw materials.
  • What is the best way to cope with the strong volatility of demand and
    related price fluctuations? How can economic growth and sustainable
    environmental demands co-exist in the longer term?
Trajectory
  • Demand for oil is projected to grow by 50% in the next two decades.
    Without significant new discoveries or radical innovations, supply is
    unlikely to keep up.
  • There are similar surges in demand across a broad range of
    commodities. In China, for example, demand for copper, steel,
    aluminum, wood, and coal has greatly increased in the past decade.
  • The world’s resources are increasingly constrained. Water shortages
    in particular will be the key constraint to growth in many countries.
    The world’s atmosphere will require dramatic shifts in human behavior
    to keep it from being depleted. The recent UN Climate Change
    Conferences and new legislation from the EC have reasserted
    environmental issues on the economic agenda. Reactions to
    economic crisis also lean to alternative sources amongst others to
    reduce oil dependency.



Trends 2008
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