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The Paris-based Organization for Economic Cooperation and Development has released its 2008 Environmental Outlook. Without new policies, the world risks irreversibly damaging the environment and the natural resource base needed to support economic growth and well-being, according to the report. But the Outlook finds that tackling climate change, biodiversity loss, water scarcity and the health impacts of pollution is both achievable and affordable.

OECD European gas production looks set to peak in 2008. After that, falling production combined with rising demand will see OECD European gas imports wanting to rise from current 197 BCM per annum to 442 BCM per annum by 2020. Where will this gas come from and how will rising European imports affect N America and the rest of the world?

“Australia is an energy-efficiency laggard among developed nations and if the Government is to deliver on its election promise of putting Australia ‘at the forefront of OECD energy efficiency improvement’ it needs decisive efficiency initiatives in addition to an emissions trading scheme,”

The paper indicates that Australia has largely untapped its energy saving potential – up to around 70% in the residential and commercial sector and up to 46% in the manufacturing sector.