16 November 2011, Climate Spectator, Australia
Russia would be overtaken by Saudi Arabia as the world’s largest crude oil producer by 2015, according to the World Energy Outlook 2011 report published by the International Energy Agency (IEA). The agency suggested it is the result of the output at new Russian fields that failed to compensate rapidly declining mature deposits. The IEA mentioned in its WEO-2011 that Russia would now concentrate on supplying natural gas to China and transforming itself into a major source of the fuel rather than gas export monopoly. Russia took over Saudi Arabia’s production of oil during the economic crisis in 2009 when OPEC’s crude output declined.
15 November 2011, New Zealand Energy & Environment Business Week
Regardless of any political ambitions to the contrary, global energy supply will for many years be dominated by fossil fuels. The world must also accept that demand for energy will continue to grow, said the International Energy Agency in its recently published annual report, the World Energy Outlook. "Global energy demand will grow 40 percent by 2035. Not least, spurred by economic growth in China and other large developing countries, global energy consumption annually increase by 1.3 percent," says the IEA. According to the report, half of global oil demand will come from China, mainly owing to increased car ownership. "There are about 800 million cars today and the agency expects this to more than double to 1.7 billion in 2035”, IEA Chief Economist Dr Fatih Birol said in an interview.
15 November 2011, Jyllands Posten, Denmark
The current oil price could stifle efforts to get the global economy back on its feet, and may also be a risk for growth in Asia, the International Energy Agencys chief economist said on Thursday. "I believe oil prices are well-positioned today to strangle the economic recovery efforts," the IEAs Fatih Birol told Reuters on the sidelines of a seminar in Vienna. Asked whether the oil-producing bloc should increase production because of the danger to the global economy, Dr. Birol said it was up to OPEC. "I hope that colleagues from the producing countries are also looking at the market indicators carefully, including the diminishing OECD stocks levels and the fragility of the global economic situation and make their decisions by taking into account all of these indicators," he said. "I think the producing countries also need clients with healthy economies."
15 November 2011, Guardian
he International Energy Agency’s top economist said Tuesday that he in concerned that the European countries may cur further government subsidies for renewables energy should the global economic downturn continue. “With the big deficit problem, if these conditions continue I would expect further cuts on government subsidies,” Fatih Birol told Zawya Dow Jones at the sidelines of The World Future Energy Summit in Abu Dhabi. “If these subsidies are further cut and the renewable industry gets a big hit, it will be very difficult for the industry to come back as it is not as established as the oil sector and other traditional industries,” Birol said. Read the full article on the Zawya site (registration required).
14 November 2011, Hindustan Times, India
The International Energy Agency has warned that the world is hurtling toward irreversible climate change and will lose the chance to limit warming if it doesnt take bold action in the next five years. In its annual World Energy Outlook, the agency spelled out the consequences if those steps arent taken and what needs to be done to cap global temperature increases at 2 degrees Celsius (3.6 degrees Fahrenheit) above preindustrial levels. That is the threshold beyond which some scientists have said catastrophic changes could be triggered. "We are going in the wrong direction in terms of climate change," he said in an interview and noted, for instance, that governments around the world have put increasing energy efficiency at the top of their to-do lists, but efficiency has worsened for two years in a row now.
14 November 2011, International Herald Tribune
The energy-economic studies of the International Energy Agency’s (IEA) World Energy Outlook (WEO) are based on current trends in energy demand and supply. IEA Chief Economist Dr. Fatih Birol today presented the findings of the latest WEO 2011 in Bern at the Swiss Federal Office of Energy. According to him, important steps are made globally to address climate change, but warned that these were not sufficient and that the chances of reaching the goal of limiting the global temperature rise to 2°C were severely reduced.
14 November 2011, Jakarta Globe, Indonesia
The International Energy Agency estimated that global demand for energy would rise by a third by 2035, with much of the demand fuelled by rapidly growing Asian nations. Current clean energy technologies were insufficient to meet carbon reduction targets so improving energy efficiency should be the top priority, it said. Presenting its annual World Energy Outlook report, its chief economist, Fatih Birol, said governments must slash subsidies for fossil fuels and push harder to increase energy efficiency. If energy consumption trends continued, Birol said, international agreement to cap temperatures at 2°C above pre-industrial levels would not be achieved and serious climate disruption could be triggered. "I am very worried. If we dont change direction now on how we use energy, we will end up beyond what scientists tell us is the minimum for safety. The door will be closed forever," he said.
13 November 2011, Moscow Times
Every month now counts: if the world is to stay below 2C of warming, which scientists regard as the limit of safety, then emissions must be held to no more than 450ppm of carbon dioxide in the atmosphere; the level is currently around 390ppm. But the worlds existing infrastructure is already producing 80% of that "carbon budget", according to a new analysis by the IEA, published on Wednesday. This gives an ever-narrowing gap in which to reform the global economy on to a low-carbon footing. "The door is closing," Fatih Birol, of the International Energy Agency, said. "If we dont change direction now on how we use energy, we will end up beyond what scientists tell us is the minimum (for safety). The door will be closed forever."
13 November 2011, Arab News
One of the worlds primary sources of energy data, the International Energy Agency, has issued a stark warning to world leaders unless theres concrete action to address climate change by 2017, the world will pass the point of no return on the journey to "dangerous" climate change. In its latest World Energy Outlook report, published last week, the IEA says global energy consumption will rise 1.3% annually to 16.96bn tonnes of oil equivalent by 2035, driven by the emerging economies such as China, India and Brazil. At the heart of the IEAs report is analysis saying current levels of greenhouse gas emissions equate to around 80% of the Earths available "carbon budget" if global temperature rises are to be kept below the threshold 2 degrees judged necessary to prevent highly unstable outcomes for the global climate. Fatih Birol, chief economist at the IEA, a relatively conservative organisation, says "the door is closing. If we dont change direction now how we use energy, we will end up beyond what scientists tell us is the minimum (for safety). The door will be closed forever." (registration required).
12 November 2011, Forbes
In its World Energy Outlook report IEA said that state spending to cut retail prices of gasoline, coal and natural gas rose 36% to $409 billion as global energy costs increased. Aid for biofuels, wind power and solar energy, rose 10% to $66 billion. While fossil fuels meet about 80% of world energy demand, its subsidies are "creating market distortions that encourage wasteful consumption," IEA said. "The costs of subsidies to fossil fuels generally outweigh the benefits." Nuclear power made up 5.8% of total energy use in 2009.