9 November 2011, Tehran Times, Iran
Speaking in Canberra on Monday morning, the agencys chief economist Fatih Birol said: The good news is for the first time, we have a road map that is supported and signed by all the governments. However the question mark I have in my mind is, I hope this road map wouldnt lead some of the countries not to act for the next 10 years or to act inefficiently which would be closing the door. The agencys World Energy Outlook 2011, which it released last month, concluded that the world had just five years to make urgent and radical policy changes to avoid locking in dangerous climate change.
9 November 2011, Moscow Times
The chief economist of the International Energy Agency said Monday he welcomes a new U.N. climate change agreement but hopes it will not cause countries to put off action on reducing greenhouse gas emissions for the next decade. In its annual World Energy Outlook, the agency spelled out the consequences if those steps arent taken and what needs to be done to cap global temperature increases at 2 degrees Celsius (3.6 degrees Fahrenheit) above preindustrial levels. Thats the threshold beyond which some scientists have said catastrophic changes could be triggered.
24 October 2011, EurActiv
The crisis at Japans Fukushima atomic facility could result in a 15% fall in nuclear power capacity by 2035 if countries reconsider existing policies, the International Energy Agency said Wednesday. This would result in increased costs for coal and gas imports for power generation and higher emissions of climate-warming gases, it said. "The incident has raised new doubts about the safety risks associated with nuclear power, inevitably raising questions about the future role of nuclear power in the global energy mix," the IEA said in its annual World Energy Outlook out to 2035. But the reports "Low Nuclear" case is still only a possibility, rather than a certainty, said Fatih Birol, the IEAs chief economist. "We made the low nuclear case to show governments the consequences" of the policies they are considering in the wake of the Fukushima disaster, Birol told Dow Jones Newswires in an interview. It is intended as a warning, he said, without naming any particular governments. According to the IEAs low nuclear case, the share of nuclear power in total generation falls 15% to 335 gigawatts in 2035 from 393 gigawatts at the end of 2010. The share of nuclear power in total generation almost halves to 7% in 2035 from 13% last year.
19 October 2011, The National, United Arab Emirates
The International Energy Agency warned Wednesday that the world is hurtling toward irreversible climate change and will lose the chance to limit warming if it doesnt take bold action in the next five years. In its annual World Energy Outlook, the agency spelled out the consequences if those steps arent taken and what needs to be done to cap global temperature increases at 2 degrees Celsius (3.6 degrees Fahrenheit) above preindustrial levels. Thats the threshold beyond which some scientists have said catastrophic changes could be triggered. But the agencys chief economist, Fatih Birol, said this week that hes not optimistic that leaders are willing to make the necessary sacrifices. "We are going in the wrong direction in terms of climate change," he said in an interview Monday. He noted, for instance, that governments around the world have put increasing energy efficiency at the top of their to-do lists, but efficiency has worsened for two years in a row now.
19 October 2011, Xinhua News Agency
The chief economist for the International Energy Agency says the world is hurtling toward irreversible climate change unless governments cut fossil fuel subsidies and improve energy efficiency. Dr. Fatih Birol says that even though governments the world over have put increasing energy efficiency at the top their to-do lists, efficiency has worsened for two years in a row. Dr. Birol warned such backslides have real consequences: If the status quo continues until 2017, the world will lose the chance to limit the rise in global temperatures to 2 degrees Celsius (3.6 Fahrenheit), as international negotiators have agreed. Dr. Birol was commenting on the findings released by the IEA on Wednesday in its annual World Energy Outlook.
18 October 2011, Agence France Presse
Investments totalling $38 trillion are needed to meet projected global energy demand through 2035, and unrest in the Middle East and North Africa may disrupt this spending, according to the International Energy Agency. Energy supplies may be threatened if unrest in energy- producing countries curbs oil and gas projects, Fatih Birol, chief economist at the adviser to 28 industrialized nations, said at a press conference in Paris. “If the investment doesn’t come through in the MENA region, this will have major implications on international oil prices,” Birol said. MENA countries will account for 90 percent of crude production growth in the next 10 years, he said. The IEA projects $16.9 trillion will need to be spent on power- generation infrastructure through 2035, or 45 percent of the total investment required to meet energy demand. That compares with $10 trillion on oil, $9.5 trillion on natural gas, $1.1 trillion on coal and $300 billion on biofuels.
18 October 2011, Nasdaq
The Arab Spring has disrupted investment plans in oil and gas projects as some governments in the region have shifted their focus to meet increasing demands from their population, the International Energy Agency said on Tuesday. As a result, this could in the next five years push oil prices higher, the IEAs chief economist Fatih Birol said at a briefing on the sidelines of the agencys two-day ministerial meeting. World energy ministers and industry leaders started a two-day meeting on Tuesday hosted by the IEA to discuss investment needs with energy-hungry emerging economies. Birol said there was reluctance from some oil producers to invest enough. "One of the question mark is over the Middle East and Northern Africa region which is crucial to meet demand growth and to meet decline in the existing production," he said. "Some countries seem to follow different oil policies not to raise production as much as the market would like to see," he said. "In other countries, they are not able to put money for projects on the table because they have other pressing issues in their countries to meet demands from the population." "In some countries because of the unrest the projects are not going forward as much as we would like to see," Birol added.
18 October 2011, Washington Post
The International Energy Agency on Tuesday estimated that $38 trillion of investments were needed in worldwide energy projects to meet energy demand through to 2035. In a presentation made at the IEA ministerial meeting, the energy body said $10.0 trillion would be needed for oil investments, $16.9 trillion for power, $9.5 trillion for natural gas.
18 October 2011, Wall Street Journal
The world must invest $38 trillion in oil, gas and electricity infrastructure over the next 25 years to stop prices from soaring, the International Energy Agency (IEA) said today. And about half of that will need to be spent in the power sector. Referring to data from the IEA’s upcoming World Energy Outlook 2011, to be published November 9, the Agency said $16.9 trillion is needed for electricity generation; $10 trillion in oil; $9.5 trillion in natural gas; $1.1 trillion in coal; and $300 billion on biofuels. “This means, more or less, that $1.5 trillion is needed every year [over the next 25 years],” Chief Economist Fatih Birol told reporters at the IEA Ministerial Meeting today.
18 October 2011, Bloomberg
The world needs to invest a total of $10 trillion between now and 2035 to meet future demand, $2 trillion more than projected a year ago, the International Energy Agencys chief economist, Fatih Birol, said Tuesday. Birol said this years World Energy Outlook, which will be released in November, sees a need for total energy investment of $38 trillion over the period to 2035, around half of which is needed for oil and gas and half for electricity. This means an annual investment requirement of around $1.5 trillion over the period, Birol told a news conference in Paris on the sidelines of the IEAs annual ministerial meeting.