25 November 2011, Mail & Guardian, South Africa
Fatih Birol, IEAs chief economist at the International Energy Agency said most Iranian oil exports go to Asia, and he does not see the expanding western sanctions having a "major impact" on global supply or prices. Birol urged OPEC against calling for output cuts at next months meeting in Vienna. "Oil prices are uncomfortably high today, especially in the times of economic recovery," Birol said after presenting IEAs World Energy Outlook at the Carnegie Endowment for International Peace in Washington."I hope to see that our colleagues in the producing countries would read the market signals, such as the high oil import bills of the countries and second the inflationary pressures in some countries and the growing trade imbalances in some countries seriously and make their decisions accordingly," Birol added.
25 November 2011, Bloomberg
The International Energy Agency hopes that the Organization of Petroleum Exporting Countries will make a "responsible decision" on oil production at its meeting in Vienna next week, Chief Economist Fatih Birol said. Demand remains strong, driven by China and the Middle East, crude stockpiles in Organization for Economic Cooperation and Development countries are coming to "low levels" and high oil prices are risky for the global economy, he said today in Warsaw. “There’s disappointing news from non-OPEC producing countries,” he said, without giving more details. "Producers need clients with healthy economies and I hope my colleagues from producing countries will make responsible decisions considering those facts," Birol said
24 November 2011, Reuters
Envoys at last year’s climate talks in Cancun, Mexico, set a goal to contain global warming to 2 degrees Celsius (3.6 Fahrenheit) since the 19th century. Pledges made so far, which aren’t legally binding, are insufficient, according to the IEA. "With current policies in place, global temperatures are set to increase 6 degrees Celsius, which has catastrophic implications,” IEA Chief Economist Fatih Birol said. “If as of 2017 there is not a start of a major wave of new and clean investments, the door to 2 degrees will be closed."
24 November 2011, Agenzia Giornalistica Italia
Amid growing evidence that the standoff between rich and poor nations over signing up to a second Kyoto commitment period will not be resolved at next weeks COP17 conference in Durban, parties are discussing fall-back positions. Postponing an operational agreement until 2020 would be fatal to hopes of avoiding catastrophic climate change, said Fatih Birol, chief economist at the International Energy Agency and one of the worlds foremost authorities on climate economics. "If we do not have an international agreement whose effect is put in place by 2017 then the door [to holding temperatures below 2°C] will be closed forever," he said.
24 November 2011, Der Standard, Austria
Fatih Birol, IEA chief economist said that he would recommend EU policy makers to continue to support renewable development, if they want to go down in the history books. "Scrapping support mechanisms now would have dire consequences for the world," he said.
24 November 2011, Die Presse, Austria
The European Union’s oil import costs have soared to more than $400bn this year as crude prices continue to trade above $100 a barrel, heightening concerns about their impact on the region’s economy, the International Energy Agency has warned. The high prices are putting "an additional burden on recovery efforts,"said Fatih Birol, chief economist at the leading energy watchdog. "If they stay at these levels in the coming months, they could well strangle the economic recovery," he added. In its World Energy Outlook, the agency said that to the year 2035, more than 90 per cent of future growth in oil production needed to come from countries in the Middle East and North Africa."If, between 2011 and 2015, investment in the MENA region runs one-third lower than the $100bn per year required, consumers could face a near-term rise in the oil price to $150/barrel," it said. Read the full article on the FT site (registration required).
24 November 2011, Bloomberg
There is an urgent need for governments to define objectives and implement necessary policies to address global energy challenges, said International Energy Agency (IEA) chief economist Fatih Birol in Washington D.C. on Monday. The recently-released World Energy Outlook 2011 showed that in the climate change mitigation scenarios, four-fifths of the total energy-related carbon dioxide emissions permissible by 2035 are already "locked-in" by our existing power plants, factories, and other infrastructures. Birol warned that if strict and new action is not taken by 2017, the existing energy-related infrastructure will not have enough room for additional carbon dioxide emission to stay within the global average temperature increase of 2 degrees Celsius, above which point would be considered intolerably dangerous climate change.
19 November 2011, Arabian Gazette, United Arab Emirates
International Energy Agency Chief Economist Dr. Fatih Birol warns that the world economic and financial crisis is delaying action against climate change and the world is losing “crucial years”. See here for the full interview with Austrian daily newspaper Die Presse.
18 November 2011, Mail & Guardian, South Africa
Energy policy must consider climate change as must as energy security, says International Energy Agency Chief Economist Dr. Fatih Birol. See here to see full interview with Austrian daily newspaper Der Standard.
17 November 2011, Erneuerbare Energien News, Switzerland
IEA chief economist Fatih Birol warns rising oil prices may stifle economic recovery. According to Birol the state of the global economy is more fragile than in 2008-09, especially in Asia. "I think the price of oil today is capable of strangling economic recovery efforts," Birol said today in Vienna, and ranked Europe and Asia among the most vulnerable economies to such high price levels.