22 June 2010, The Globe and Mail
Speaking about the offshore industry, Fatih Birol the IEA Chief Economist said tighter regulation and higher costs for deepwater drilling were likely to increase the Wests dependence on OPEC oil."Over three-quarters of non-OPEC oil supplies are expected to come from offshore drilling, so if there are increased costs and delays this will accelerate the dominance of OPEC." Birol said.
11 June 2010, Daily Mail
Speaking at the World National Oil Companies Congress, Fatih Birol, Chief Economist at the IEA, warned of the possible impact on offshore exploration of the Macondo spill, including higher offshore costs and possible delays to projects. He said “If new deepwater projects elsewhere in the world are also delayed, the total amount of output affected by 2015 could be as much as 900,000 b/d”.
7 June 2010, Bloomberg
Fatih Birol, the Chief Economist at the IEA, warned that due to the biggest spill in U.S. history the offshore production growth may be slower than expected, pushing up prices. He said: “There could be definitely a negative impact on the offshore product growth, which may in turn mean upward pressure on prices”.
7 June 2010, Bloomberg
Remarking that 90% of non-OPEC oil production growth is expected to come from offshore drilling over the next decade, Fatih Birol, the IEA Chief Economist said “Offshore is one of the very important and last frontiers in the oil business where the supermajors can go and invest and make money. This may be at risk if the trends continue as they are now. In all these regions I get news about new regulations, new standards and so on which would at least postpone and delay things”.
6 June 2010, The Financial Times
International Energy Agency Chief Economist Fatih Birol called on leaders of the Group of 20 Nations to fulfill their pledge to end fossil-fuel subsidies, a move he said will cut oil demand and greenhouse-gas emissions. Birol said that subsidies just for consumption totalled $557 billion in 2008 and stopping aid by 2020 would reduce global oil demand by 6.5 million barrels a day. “This is the only single policy item that could make such a major change in the global energy and climate-change game” said Birol.
27 May 2010, People Daily, China
At the sidelines of the 2010 OECD Forum and Ministerial Meeting, the Chief Economist at the IEA, Fatih Birol said the emerging countries can have better future in terms of green growth compared with developed countries. “Emerging countries have a big potential, because they are now establishing the infrastructure”, Birol added.
27 May 2010, Global Times
Speaking at the OECD Annual Forum, Fatih Birol, the IEA Chief Economist said” The era of cheap oil is over. We have to get used to higher oil prices even if there is no crisis or crunch”. Birol added that oil production in non-Organization of Petroleum Exporting Countries is reaching a peak and the bulk of oil predication growth will have to come from a few countries in the Middle East.
25 May 2010, Nasdaq
According to the IEA exhaustive study on the financial assistance devoted to oil, natural gas and coal consumption, the world economy spends more than $550bn in energy subsidies a year. Commenting the report that will be discussed at the G20 Summit this month, Fatih Birol, the IEA Chief Economist, said: “I see fossil fuel subsidies as the appendicitis of the global energy system which needs to be removed for a healthy, sustainable development future. Phasing out oil, natural gas and coal subsidies” – he added – “would increase energy efficiency and push investments in clean energy sources”.
12 May 2010, Hurriyet Daily News, Istanbul
During the 2010 OECD Forum and Ministerial Meeting which focus on innovation and green growth, Fatih Birol, the IEA Chief Economist, highlighted that developing countries should take the opportunities to think about how they construct the mobility system and what power plant will be built, in a bid to avoid the faults most OECD countries made. He added “Emerging economies are in face of making these big decisions and if they make right decisions, then they can have a better future than OECD countries”
28 April 2010, Reuters India
After a speech at the United Nations, IEA Chief Economist, Fatih Birol said that Crude oil prices of $85 a barrel or higher could "strangle" an economic rebound. Birol added he is not hopeful an agreement on climate change would come out of talks in Cancun later this year.