A new U.S. report says that the global demand for energy will spike markedly in the next two decades, with China and India accounting for half of the growth.

The U.S. Energy Department said Monday that the world energy demand will jump 53 percent by 2035, and that by then China and India combined will consume nearly one-third of the global total. China only recently became the world's biggest energy consumer, but by 2035 American energy forecasters says it will use more than two-thirds as much as the United States.

The U.S. agency said that while renewable forms of energy are expected to be the fastest growing source of energy, they still would only account for 15 percent of the total in 2035. Fossil fuels, long the dominant source of energy, would still provide more than three-fourths of the world's energy needs.

The report said that as energy demand increases, so will the price of oil. The U.S. predicted that oil, now more than $85 a barrel, will advance over time to $125 a barrel in 2035.

One U.S. official, Howard Gruenspecht, said that the growth in energy demand is largely being fueled by the needs of emerging nations. The U.S. report said that China and India were among the countries least affected by the world recession and that the economies of the two nations continue to grow.