17 November 2010, 21st Century Business Herald & Ifeng, China
The International Energy Agency last week called for eradicating fossil fuel subsidies, which would boost the global economy, environment and energy security. “There should be a better way for helping poor people rather than undermining the energy markets,” IEA Executive Director Nobuo Tanaka said. “We know by phasing out subsidies, yes, it helps reduce demand of the global energy markets by about 5mn barrels per day”, he added.
17 November 2010, The Prague Post, Czech Republic
Presenting the World Energy Outlook 2010 today in Madrid, IEA Chief Economist Fatih Birol said "given that the LNG (Liquefied Natural Gas) is cheap today, many importers may turn to their exporting operators to try to renegotiate existing contracts as three European companies from Italy, Germany and Turkey have already done so far. The new contracts will be less indexed to oil prices so that will reflect market realities, which would be good news for importers such as Spain".
17 November 2010, Energíadiario, Spain
The oil market will be very well supplied toward the end of next year, Nobuo Tanaka, the International Energy Agencys (IEA) executive director, said at a news briefing in Beijing on Tuesday.
17 November 2010, Yicai, China
New European Union proposals for a tough cut in carbon dioxide emissions would have only a limited impact on the global warming process, International Energy Agency chief economist Fatih Birol told Reuters on Monday in Warsaw. He said the gains from the tougher EU reduction target would roughly equal only two weeks of Chinas emissions. With regards to the forthcoming United Nations climate summit in Mexico, "the wind is not blowing in the right direction for fighting global warming. Frankly, there are virtually no chances for the Cancun summit to end in legally binding agreement," Birol said, adding, "I would be very happy to be proven wrong on this."
15 November 2010, Reuters India
The implications of the International Energy Agency’s (IEA) new report, World Energy Outlook 2010, are stark. Its 25-year “New Policies Scenario” projects that it is most probable that conventional crude oil production “never regains its all-time peak of 70 million barrels per day reached in 2006.” Crude oil production is most likely to stay on a plateau of around 68-69 million barrels per day. However, the IEA concludes that total growth in liquid fuels from other unconventional sources will more than make up for the shortfall in crude. Despite this apparent optimism […] in the words of IEA chief economist Fatih Birol, “the age of cheap oil is over.”
15 November 2010, Middle East Online
The pressure to switch away from long-term oil-indexed gas contracts will continue after some buyers were successful in renegotiating terms, according to Fatih Birol, chief economist at the International Energy Agency. “How the long-term contracts are formulated may evolve, moving away from the oil-based contract to some new, creative solutions,” Birol told reporters today at a conference in Oslo on a panel with Statoil CEO Helge Lund. “I don’t expect a divorce between the oil prices and gas prices, but there are maybe some longer-distance relationships.”
15 November 2010, Bloomberg
Presenting the WEO to minister Maxim Verhagen, chief economist Fatih Birol predicted yesterday that gas prices will hardly rise. Countries like Germany, Italy and Turkey already renegotiated their long-term contracts. And its not for sure that Caspian gas will go to Europe, as China is quickly deploying pipelines to the region.
15 November 2010, Gulf Times, Qatar
According to a projection in the International Energy Agency’s latest annual report, released last week, production of conventional crude oil probably topped out for good in 2006, at about 70 million barrels a day. Production from currently producing oil fields will drop sharply in coming decades, the report suggests. […] A major boost in [unconventional oil sources and increased production of natural gas liquids] should be able to meet demand, but that is far from certain, Nobuo Tanaka, the agency’s executive director, told reporters.
15 November 2010, Dagens Næringsliv, Norway
Bigger uncertainty than ever. That’s the description the IEA gives of the prospects for the energy world in its large report ”World Energy Outlook”. The uncertainty is about both how fast economic growth will rebound after the financial crisis and about how the world will handle the two challenges of energy and climate. The report show how large the challenges are.
14 November 2010, New York Times
According to the authors of the International Energy Agency’s 2010 World Energy Outlook, it is regrettable that “The commitments that countries have announced under the Copenhagen Accord to reduce their greenhouse-gas emissions collectively fall short of what would be required to put the world on a path to achieving the Accord’s goal of limiting the global temperature increase of 2°C”.