The International Energy Agency (IEA), the global energy advisory body, has warned big energy consuming nations like India and China that energy will become "viciously more expensive" and polluting if governments don't promote renewable and nuclear power in the next two decades instead of burning coal.
Stating that nuclear energy remains vital to cope with rising energy demand, the IEA also warned that a pullback from nuclear production, amidst a rise in demand for energy, was likely to drive countries towards increased use of coal and gas, and therefore to generating extra carbon pollution with a devastating effect on the environment.
The price of non-nuclear sources of energy would rise sharply, the IEA said in its annual World Energy Outlook report that was released last week, forecasting that in any case global oil demand was set to grow by 14.0% by 2035, pulled by China, India and other emerging economies.
Oil prices could rise to $120 per barrel, the IEA said in its annual report as it warned that the world had to change the way it was consuming energy.
"Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system," IEA executive director Maria van der Hoeven said in the 24-page report. "Growth, prosperity and rising population will inevitably push up energy needs over the coming decades."
"But we cannot continue to rely on insecure and environmentally unsustainable use of energy," Van der Hoeven added.
The slow-down in the nuclear power plants of most nations follows the worst atomic accident in 25 years at the Fukushima plant in Japan. The incident also saw Germany close eight of its 17 reactors permanently.
Nuclear plants generate power continuously while emitting virtually no greenhouse gases. Without it, keeping world temperature gains at 2 degrees Celsius (3.6 Fahrenheit) will cost an extra $1.5 trillion through 2035, the IEA said.