World demand for oil is also increasing rapidly. Oil consumption of China alone in 2006 has increased by almost half a million barrels per day. This is about 38 percent of the total growth in world oil demand. (China is the world’s third-largest net importer of oil behind the United States and Japan).

While the worldwide energy demand is expected to increase by 50 percent by 2030, it is unlikely that the oil supply can grow by 50 percent. This means that world will be more dependent on coal and natural gas. There are evidences suggesting, however, production of these two energy sources is associated with some environmental problems. Most of the conventional processes convert carbon to carbon dioxide discharged into the atmosphere. The growing awareness of the impact of greenhouse gas emissions on global climate change has necessitated a reassessment of the conventional approach to achieve a sustainable energy for the future.

The important aspects of energy such as security of energy supply; the economic sustainability of energy sources; and the effect of energy production and use on the environment are closely related and need to be carefully considered when decision on energy policy is made.

This paper focuses on issues related to supply, sustainability, and security of world energy and the important role that renewable energy and energy efficient technologies that can play in this regards.