Global energy demand will triple by the year 2050, leaving the world in a gaping shortfall equal in size to the industry’s total output in 2000, Royal Dutch Shell cautioned Monday in a report on the future of energy use. The report warns broadly of an uncertain and volatile period ahead, both for oil prices and for global politics as demand from emerging nations like China and India intensifies and supply fails to keep pace. “We believe that the world is entering an era of volatile transitions and intensified economic cycles. The recession interrupted the oil and commodity price boom but it may return,” the British energy giant states.

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