Energy efficiency: a riddle, in a mystery, in an enigma?

Projections of future global energy demand depend on energy efficiency gains which are hoped to step up from 1% per year since 1970, to above 3% per year to 2050 by some forecasters. But efficiency is vague. This 17-page note worries that global energy demand will surprise to the upside as energy efficiency gains disappoint optimistic forecasts.