China, India to become world’s top energy users by 2040

Will account for half the world's total energy increase.

The US Energy Information Administration said he increase in world energy consumption will be driven by growth in the developing world, including India and China.

The report found that world energy use may increase from 534 quadrillion British thermal units (Btu) in 2010 to 820 quadrillion Btu in 2040. One quadrillion Btu is equal to 172 million barrels of crude oil.

It said rising prosperity in China and India is a major factor in the outlook for global energy demand. The report also found that energy use in countries outside the Organization for Economic Cooperation and Development (OECD) will increase by 90% while the increase is just 17% in OECD countries.

EIA said renewable energy and nuclear power are the world's fastest-growing energy sources, each increasing by 2.5% per year. Fossil fuels, however, will continue to supply almost 80% of world energy use through 2040.

Natural gas will be the fastest growing fossil with the US and Russia together accounting for nearly one-third of the total increase in world gas production.