The global economic recession has provided a narrow window of opportunity to invest in low-carbon technology at a time when emissions are well below what they would have been had the recession not occurred, states the International Energy Agency’s 2009 World Energy Outlook, with the much awaited report released last week.

The temporarily lowered emissions as a result of the recession will “count for nothing” unless countries take solid action to curb the growth of greenhouse gas emissions, the report states.

The IEA is hoping the outlook will add momentum to negotiations at the United Nations Climate Change Conference, which takes place Dec. 7-18 in Copenhagen, said Nobuo Tanaka, executive director of the IEA.

In its Short-term Energy Outlook for November released last week, the Energy Information Administration raised its expectations for global oil demand for the fourth quarter and 2010, and revised higher its price projections for gasoline and diesel fuel sold at retail outlets in the U.S.

In releasing the outlook, the EIA also lifted its price forecast for West Texas Intermediate crude oil $7 bbl to $77 bbl this winter, defined as October through March, as expectations of an economic recovery and higher oil consumption offset concerns about a current surplus supply in inventory. The forecasts for monthly average WTI prices rises to about $81 bbl by December 2010 assuming U.S. and world economic conditions continue to improve.

“Higher projected crude oil prices in 2010 (refiner average cost of crude oil almost $17 per barrel, or 40 cents per gallon, higher than the 2009 average) contribute to an expected $0.45-per-gallon increase in regular-grade gasoline prices, to an average of $2.81 per gallon next year,” the EIA said.