13 November 2010, Arab News
High oil prices are hindering economic recovery and it would not be in the interest of the oil-producing OPEC states to see oil above $90 per barrel, the chief economist of the International Energy Agency (IEA) said. Asked if the current price of oil was starting to damage the economy, IEA chief economist Fatih Birol told Reuters on Monday: "At these high levels of prices, it would definitely be a problem for economic recovery. This may well strangle the economic recovery of many countries." Asked if he though OPEC would change supply if oil prices topped $90, Birol said: "I think if it goes above $90 it is not a good thing for OPEC countries as well."
12 November 2010, Petroleum Economist
When Fatih Birol speaks, the world listens. And when he lets his annual World Energy Outlook (WEO) speak, it is taken all the more seriously, as this is regarded as the almanac of the energy world, which is anxiously and eagerly awaited all around. The focus of WEO 2010 was clearly on two issues: the emerging, dominant role of China in the global energy equation and the faltering climate battle. Chinas increasing appetite for energy will drive rising global energy demand over the coming decades, putting the country in a position to mould the future of both energy security and alternative energy sources. “I see a double role for China in the future,” Birol said in rather clear terms.
11 November 2010, Financieele Dagblad, Netherlands
Chinese and Indian energy demand are set to grow rapidly - and this will almost double the price of oil within the next 25 years, forecasts the International Energy Agency (IEA). Now the Organisation is asking above all for government support to back up solar, wind and other renewables. The IEA asked governments to increase support for energy efficiency as well as to push low-carbon technologies. “We have to leave fossil fuels by switching to technologies that emit much less carbon dioxide into the atmosphere”, said IEA Executive Director Nobuo Tanaka.
11 November 2010, European Energy Review
Unconventional oils share of world crude supply could rise above 10% by 2035, helping offset weaker conventional output, amid a sharp rise in Asian demand, says the International Energy Agency (IEA). "We expect crude oil production to reach a plateau in the next few years from existing [conventional] fields, but global oil demand will increase, driven by China, India and the Middle East," says the agencys Chief Economist Fatih Birol. Canada would be responsible for a "significant contribution" to maintaining global oil production levels, he adds
11 November 2010, De Telegraaf, Netherlands
The IEA experts consider that gas will play a key role to satisfy this demand [pulled by emerging economies] and that a golden era for gas will materialise if coal, its main rival to generate electricity (but emitting twice more CO2), is to face up carbon tax.
11 November 2010, Le Monde, France
The International Energy Agency (IEA) yesterday said crude could exceed $200 by 2035 as the worlds conventional output flattens unless governments curbed consumption. "The message is clear: the price will go up, especially if consuming countries do not make changes in the way they consume oil, especially in the transport sector," Fatih Birol, the chief economist of the IEA said as the agency released its 2010 World Energy Outlook.
10 November 2010, Tehran Times, Iran
The energy statistics organisation has previously predicted an abundance of gas for five years due to new "shale" reserves being exploited in the US and the growing ability of gas companies to ship the fuel in liquefied form (LNG). However, the IEA now believes the glut could last a decade and keep prices lower for longer according to latest findings of World Energy Outlook 2010, released yesterday. In its annual World Energy Outlook, the IEA also predicted that oil prices would reach only $113 per barrel by 2035 adjusted for inflation – well below other expert predictions. It also issued a warning that the cost of failing to reduce CO2 has already hit $1 trillion and will only continue to rise.
10 November 2010, The Telegraph
Where will the new energy demand in the next twenty-five years? Fatih Birol, chief economist of the International Energy Agency (IEA) replied during the launch of World Energy Outlook: "I would say it will be five areas of the world. China, China, China, Middle East and India." This is the most striking aspect of the scenarios sketched by the agency in the new edition of the IEAs World Energy Outlook, presented yesterday in London. China, which the IEA has just stolen the sceptre of the United States more energy-intensive country in the world, is still far from stable consumption: by 2035 its electricity demand expected to triple, prompting Beijing to build new power plants for additional installed capacity of approximately the equivalent of the entire network of the United States.
10 November 2010, Il Sole 24 Ore, Italy
Global oil supplies will come close to a peak by 2035, when prices will exceed $200 a barrel, the International Energy Agency said in its 2010 World Energy Outlook. The conventional crude output has already peaked and will flatten in the next 10 years, boosting reliance on costlier unconventional sources such as oil sands. Oil prices will rise even further if governments dont act to curb consumption, the agencys chief economist and lead author of the report, Fatih Birol said.
10 November 2010, Edmonton Journal, Canada
China will drive a global surge in energy demand over the next two decades, with the country expected to account for more than a fifth of world demand by 2035, according to the International Energy Agency’s World Energy Outlook 2010. The greatest driver for oil demand will come from the transportation sector, according to Fatih Birol, the IEA’s chief economist.