10 November 2009, PulsBiznesu, Poland
The chief economist of the IEA, Dr. Fatih Birol, said that without a new climate change agreement to replace the Kyoto protocol, the average annual import bill of the European Union will more than double by 2030 to reach around $500 billion on average over the period 2008-2030 from around $160 billion on average over the past 30 years.
10 November 2009, Reuters, India
China and India will be responsible for most of the worlds oil demand growth over the next two decades, according to the International Energy Agency (IEA) World Energy Outlook. The report said if government policies stay as they are, Indian oil demand is likely to rise by 3.9 percent every year until 2030, while Chinese demand will rise by 3.5 percent annually over the same period. "India is going to overtake Japan by 2020 as the third largest oil and gas spender." IEA Chief Economist Fatih Birol said.
10 November 2009, Noticias Latino
The IEA stated today that world energy demand will grow by 40% by 2030 and that the climate summit in Copenhagen next month will be a “critical moment” to design a sustainable (energy) future. Nobuo Tanaka, IEA Executive Director quotes “world leaders have a historical opportunity to avoid the worst effects of climate change.”The energy efficiency will be the major contributor to reducing demand. Containing climate change is possible, but it requires a profound transformation of the energy sector”
10 November 2009, Danish Minister for Climate and Energy, Connie Hedegaard
World Energy Outlook 2009 provides clear messages for the climate negotiations in Copenhagen. Limiting the temperature rise below 2 degrees celcius is both doable and affordable. And waiting will impose tremendous costs on our societies. With this report the IEA shows that the solution is within reach. Now it is up to politicians to show they have the will to seize it, says the Danish Minister for Climate and Energy, Connie Hedegaard.
27 October 2009, El Mundo, Spain
Fatih Birol, presenting the WEO 2009 Climate Change Excerpt in Madrid said "We need a revolutionary change in our energy system if we want to avoid a global temperature rise of up to 6 degrees." he added: "The economic recession has provided a golden opportunity for governments negotiating a successor treaty to the Kyoto Protocol at the UN Conference (COP15) in Copenhagen next December".
26 October 2009, Bloomberg
OPEC may increase production targets in December as oil rises above $75 a barrel, the groups president said, as the International Energy Agency warned rising prices threaten the recovering global economy. The Organization of Petroleum Exporting Countries will meet Dec. 22 in Luanda, Angola, to review production quotas that it has left unchanged at three gatherings in 2009. Crude futures have rallied 80 percent this year, trading at around $80 a barrel today in New York. Rising prices harm the economic recovery, according to IEA Chief Economist Fatih Birol. "With the strong rebound of the economy, we will see high prices, especially at this juncture, as a significant risk to the risk to the recovery efforts," Birol said in an interview at a Coaltrans conference in London today.
22 October 2009, Financial Times
Fatih Birol, chief economist of the International Energy Agency, commenting oil prices fresh 2009 high at $82 said that investment cutbacks last year as a result of falling prices could be "bad news" if they were followed by economic recovery in leading oil consuming countries and growing demand for crude. Birol said: "This may well lead to oil price spikes, which in turn may be a major problem for the economic recovery efforts".
21 October 2009, Australian Associated Press
The world will have to find four Saudi Arabias by 2030 if it wants to maintain its oil dependency, the International Energy Agency says. The reality of peak oil is fast approaching, and more must be done to develop and encourage the use of alternatives including solar and nuclear, the agencys chief economist has warned. "My main motto never changes, the era of low oil prices is over," Dr Fatih Birol said. "When the economy recovers, oil prices will recover accordingly. Mid to long term, we will be experiencing high prices."
21 October 2009, Reuters China
Oil, which hit a year-high above $80 a barrel on Wednesday, is costly enough to ensure investment even in the most expensive sources of crude, but the industry still faces big challenges, the IEAs chief economist said. The International Energy Agency has voiced concerns of a possible price spike if insufficient investment is made in bringing on new sources of oil to keep pace with demand. "Oil prices of $78 are high enough for almost every single drop of oil we have in the world to invest, if they were to stay at these levels, if producers were to believe that the prices will stay at these levels," Fatih Birol told Reuters on the sidelines of a U.S.-China clean energy conference.
14 October 2009, The Wall Street Journal
Underinvestment in the oil and gas industry remains a concern and could yet push energy prices much higher once global demand recovers, the International Energy Agencys Chief Economist Fatih Birol said Wednesday. There hasnt been "noteworthy progress" in investment since May, Birol told reporters on the sidelines of an IEA-sponsored meeting of energy officials.