Working together to ensure reliable, affordable and clean energy

flag-pol flag-chi

Connect with us:

RSS LinkedIn You Tube

10 November 2010, The National, United Arab Emirates

According to Fatih Birol, IEA Chief Economist, gas could well enter a golden age sometime soon. Being cheap and abundant, this fuel may threaten the development of nuclear and renewable energy.

10 November 2010, Les Echos, France

Conventional oil production may plateau at 70 Mb/d by 2020 indeed. But liquefied gas or unconventional oil will take over and supply the extra needs, thus allowing for an increase in global production for decades to come. The peak in production would then not be reached before 2035.

10 November 2010, Le Temps, Switzerland

According to the International Energy Agency « even if the commitments under the Copenhagen Accord were fully implemented, the emissions reductions that would be needed after 2020 would cost more than if more ambitious earlier targets had been pledged », the Agency said in its annual flagship report the World Energy Outlook (WEO).

10 November 2010, The Independent, UK

When asked about the certainties that the energy sector faces, Dr. Birol said "The era of cheap oil is over. And it will be China that will have the most important effect on what will happen in the global energy markets due to the sheer size of their economy. Every decision made in China will have an effect globally and also Polish citizens should get accustomed to the fact that not all decisions made in Warsaw will have the same effect in their lives compared to some decisions that will be made in Beijing."

10 November 2010, Rzeczpospolita, Poland

The International Energy Agency has warned that governments need to do more to increase efficiency and boost green technologies to meet a forecasted 36 percent jump in energy demand between 2008 and 2035. Oil subsidies were limiting the scope for higher prices to choke off demand and change consumer habits, the IEA said, and called for oil subsidies to be reduced. "If subsidy policy does not change, with increasing price assumptions, these $312 billion in subsidies for 2009 will reach $600 billion in 2015. Thats huge," IEA chief economist Fatih Birol said.

9 November 2010, The Financial Times

In its annual World Energy Outlook, the International Energy Agency predicts that oil prices would rise to $113 per barrel in 2035 from just over $60 per barrel in 2009, because of growing demand for cars and airplanes and increasingly difficult to reach reserves. While that might not be good news for consumers, it would provide more of an incentive to try other options, Fatih Birol, the IEA’s chief economist, said. “Moving, for example, from an oil-based to an electric car is one, if not the only, tool oil importing countries have in having a say in the international oil markets,” Birol said.

9 November 2010, The New York Times

Chinas insatiable thirst for fossil fuels to power its surging economy could put pressure on global energy supplies and drive up oil prices to much higher levels over the next 25 years, according to the International Energy Agency. Strong growth in Chinese energy demand "may well change oil market expectations, and if supply doesnt respond accordingly, we may see higher prices than we have now," said Fatih Birol, the IEAs chief economist.

9 November 2010, The Wall Street Journal

Worldwide demand for primary energy will increase by 36% between 2008 and 2035, according to the International Energy Agency’s World Energy Outlook 2010. Emerging economies will account for almost all of this of this increase (93%). China, which overtook America last year to become the world’s largest energy user, is projected to increase its demand by 75% over the same period. Fossil fuels will still be the dominant source of energy in 2035, though their share in the energy mix will fall in favour of renewable energy sources and nuclear power.

9 November 2010, The Economist

A global gas glut which could last a decade will act as a "major barrier" to the development of renewable energy, cleaner coal plants and nuclear power, according to the International Energy Agency’s World Energy Outlook 2010. Fatih Birol, IEA’s Chief Economist said that "the golden age of gas" will lead to cheaper gas prices for consumers, particularly in Europe, but warned that “from the perspective of renewables and nuclear its not good news" as gas plants low operating cost will make it harder for wind farms and other renewables, including nuclear, to compete and attract investment.

9 November 2010, The Guardian

The IEAs World Energy Outlook 2010 says: "Subsidies that artificially lower energy prices encourage wasteful consumption and undermine the competitiveness of renewable and more energy-efficient technologies." The IEA also warns that the failure to reach a strict emissions agreement at Copenhagen makes it much more difficult and expensive to achieve the stated UN goal of stabilised emissions at a level equated with a temperature rise of 2C.