19 January 2011, New York Times
It is virtually impossible for the world to keep within the CO2 limits defined as safe for the climate, according to the chief economist of the International Energy Agency. Dr Fatih Birol told an audience in London that key nations were not prepared to take the steps necessary to cut carbon growth. It was his comments on climate change that seemed to cause the biggest buzz among the audience that packed a huge lecture theatre at Imperial College London. "We would need to double decarbonisation efforts, then double them again to keep emissions (of CO2 and equivalent gases) within 450 parts per million," he said. "The bulk of the effort needs to take place in countries where climate change is not high on the policy agenda. We have to be realistic", Dr. Birol said.
19 January 2011, BBC News
The International Energy Agency, an adviser to consuming nations, said Jan. 18 that “three-digit oil prices risk damaging” the economic recovery, signaling that the Organization of Petroleum Exporting Countries should raise output. OPEC responded the same day by saying that global supplies are sufficient to meet demand. Global oil benchmarks may reach $100 at “any time,” the IEA’s chief economist, Fatih Birol, said in a Jan. 18 interview with Maryam Nemazee on Bloomberg Television. “If the oil price goes up, the vulnerability of our economy is going to increase significantly, and this can derail the recovery,” Birol said.
17 January 2011, Fox Business
Fatih Birol, chief economist at the International Energy Agency, welcomed the G-20’s new focus on energy, saying it would bring important consumers like China and India and suppliers like Russia and Saudi Arabia around the same table. But he cautioned that replicating the oil database for natural gas would be difficult because gas markets were evolving rapidly, with new players and new forms of energy, like shale gas, entering the market. “Security of supply is still an issue, but compared to a few years ago, things have changed,” Mr. Birol said.
9 January 2011, The Sunday Telegraph
In an interview with Dow Jones Newswires, Fatih Birol said "if we assume that oil prices remain around $100 in 2011, the import bill to [gross domestic product] in the U.S. will be 2.6%, very close to the level we saw in 2008" of 2.8%. "In Europe, it would be 2.2%, exactly what we had in the year 2008," added Birol, whose agency acts an energy watchdog for the worlds most industrialized nations. The statements put a quantitative assessment on a warning by the IEA that current oil prices--presently close to $100 a barrel--could endanger the economic recovery in industrialized countries.
7 January 2011, Time
Spurred by a weak dollar, oil prices exceeded $90 per barrel after Christmas, the highest since October 2008. Last week the International Energy Agency revealed that the oil import costs for the 34 members of the Organisation for Economic Co-operation and Development have soared by $200bn to $790bn. Fatih Birol, the chief economist of the IEA, said that oil prices were "entering the danger zone", arguing that the rising cost of oil was becoming a threat to the global economic recovery.
6 January 2011, The Independent
The IEA says that in the past year importing crude oil costs for OECD countries have increased from 200,000 million to 790,000 million dollars, due to the rising oil price. The Agency said that this increase is equivalent to a loss of income equal to 0.5% of OECD GDP. "Oil prices are entering in a dangerous zone for the global economy. Import bills could threaten the economic recovery. This is an alarm bell for consumer and producer countries." said Fatih Birol, IEA chief economist.
6 January 2011, Expansión, Spain
The spike in global oil prices that preceded the Great Recession is being repeated […] as oil futures crept above $92 a barrel this week — their highest level since 2008. Fatih Birol, chief economist at the Paris-based International Energy Agency, which represents the worlds industrialized oil-consuming countries, warned on Monday that oil prices are expected to reach $100 a barrel again soon, threatening the economic recovery by hugely increasing the energy bills of countries, factories, cities and drivers. Birol warns that the rising price "is a wake-up call."
5 January 2011, Financial Times
Despite a 1.4pc drop in the oil price yesterday to $93.53, economists are cautioning that oil above $100 could put the brakes on the world’s emergence from recession. Fatih Birol, chief economist at the International Energy Agency, warned about the impact on growth while the price remains above $90 per barrel.
5 January 2011, The Telegraph
Recent data by the International Energy Agency (IEA) shows oil import costs for members of the Organization for Economic Cooperation and Development rose by $200 billion by the end of 2010, reaching $799 billion. "It is not in the interest of anyone to see such high prices," IEA Chief Economist Dr. Fatih Birol said, suggesting oil importing countries pare back on use of oil and energy producers increase production to lower costs.
5 January 2011, United Press International
Fatih Birol, chief economist at the International Energy Agency, is among the most respected voices in energy. So it is notable that Dr. Birol has hit the panic button on oil prices: "Oil prices are entering a dangerous zone for the global economy," he told Sylvia Pfeifer in todays Financial Times. Dr. Birol cannot be ignored, and recovering global demand has most analysts agreeing with him.