The IEA’s divisive mission to decide the future of oil

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Financial Times 12h ago

The IEA’s divisive mission to decide the future of oil - Financial Times

Quick Summary:

The International Energy Agency forecasts that the world will reach peak oil in 2029.

When there is a really obvious question, lots of people start asking it and the IEA was the obvious player to answer it,” he adds.“I hear the complaints from the oil companies and Opec, but climate change is arguably the biggest issue facing the energy industry, so the idea the IEA should not focus on it and just look at oil supplies is quite bizarre.

He decided that the energy sector, which is responsible for more than two-thirds of greenhouse gas emissions, needed not just analysis but also guidance.“I had a meeting with my colleagues and I told them we needed to come up with a road map for how to transform the energy sector to be in line with 1.5C,” Birol says.