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☆ Energy Agency Sees Peaks in Global Oil, Coal and Gas Demand By 2030
▼ + stars: | 2023-10-24 | by ( Brad Plumer | More About Brad Plumer | ) www.nytimes.com time to read: +1 min

If that all came to pass, oil and gas demand would most likely plateau at slightly above today’s levels for the next three decades, expanding in developing countries and shrinking in advanced economies. “The transition to clean energy is happening worldwide and it’s unstoppable,” said Fatih Birol, executive director of the International Energy Agency. After Mr. Birol first suggested the possibility in September, the oil cartel OPEC warned that such forecasts were highly uncertain and could lead countries and companies to underinvest in oil and gas drilling. If demand for fossil fuels did not fall as expected, the cartel said, the lack of supply could lead to “energy chaos.”OPEC issued its own outlook last year projecting that global demand for oil and natural gas would keep rising until 2045. “I have a gentle suggestion to oil executives, they only talk among themselves,” Mr. Birol said in an interview.

Persons: ”, Fatih Birol, “ It’s, ’ it’s, ’ —, Birol, “, ” Mr, — Organizations: International Energy Agency, OPEC

☆ Clean Energy’s Powerful Momentum
▼ + stars: | 2023-10-24 | by ( Manuela Andreoni | More About Manuela Andreoni | ) www.nytimes.com time to read: +1 min

For the past few months, we’ve been telling you all about the U.S. energy transition that’s arriving faster than you think. But the move toward solar is global: the study’s authors expect solar to be the cheapest source of electricity in almost all countries by 2027. “The transition to clean energy is happening worldwide and it’s unstoppable,” Fatih Birol, executive director of the International Energy Agency, told Brad. Between 2010 and 2020, the study found, the cost of solar cells fell by 15 percent each year. “The pace of decline in price initially surprised many people,” my colleague Ivan Penn, who covers the energy sector, told me.

Persons: we’ve, Fatih Birol, Brad, Ivan Penn Organizations: International Energy Agency

☆ Demand for oil, gas and coal will peak by 2030, but that's not fast enough to keep global warming within 1.5 degrees, says IEA chief
▼ + stars: | 2023-09-12 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

Demand for fossil fuels like oil, gas and coal will hit an all-time high before 2030, according to Fatih Birol, executive director of the International Energy Agency. "Despite recurring talk of peak oil and peak coal over the years, both fuels are hitting all-time highs, making it easier to push back against any assertions that they could soon be on the wane. The IEA is a global intergovernmental energy agency founded in 1974 after the oil crisis in 1973, and which now includes in its energy charter clean energy and the global energy transition. Also, China's slowing economy will decrease its use of coal, Birol said. The surge in adoption of electric vehicles, including in China, contributes to the IEA's forecast that oil demand will peak before 2030.

Persons: Fatih Birol, Birol Organizations: International Energy Agency, AFP, Africa Climate, Kenyatta International Convention, Financial Times, IEA, World Energy Locations: Africa, Nairobi, China

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

☆ Mining Deploys Innovative Tech to Find Copper, Other EV Metals
▼ + stars: | 2023-07-20 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

By adding bio-surfactants along with the other chemicals during the soaking process, more copper floats to the surface and less is wasted. Locus says its bio-surfactants increase copper yields by 7%, and save energy because less rock needs to be crushed. It is also testing its process on iron ore and tailings waste. Photo: douglas magno/Agence France-Presse/Getty ImagesGroups concerned about the environment frequently talk about mining waste or so-called tailings, mining companies less so. “Long term we need to get more suppliers of these metals, rare earths in particular.”Phoenix finds mine sites where the tailings waste is free from radioactive elements such as thorium and uranium.

Persons: Nico Cuevas, Tesla, Cuevas, ”, Fatih Birol, Urbix, “, ” Cuevas, Luke Sharrett, Gabi Knesel, Knesel, douglas magno, Vale, Nicholas Myers, Myers, Yusuf Khan Organizations: SK, South, Sustainable Business, International Energy Agency, Miners, EV, Bloomberg, “ Mining, BHP, Agence France, Getty Locations: Mexican, Arizona, U.S, Mexico, Mesa, South Korean, China, America, Madagascar, Tanzania, Northern Europe, Solon , Ohio, Brazil, Woburn, Mass, New York, yusuf.khan

PREVIEWBirol pointed to a “powerful alignment of major factors,” driving clean-energy spending higher, while spending on oil and other fossil fuels remains subdued. The Covid-19 pandemic appears to have marked a turning point for global energy spending, the IEA’s data shows. While clean-energy spending has boomed, spending on fossil fuels has been tepid. Investments in clean energy and fossil fuels were largely neck-and-neck in the years leading up to the pandemic, but have diverged sharply since. “If there is not enough investment globally to reduce the oil demand growth and there is no investment at the same time [in] upstream oil we may see further volatility in global oil prices,” Birol said.

☆ Europe may have averted an energy crisis for now but is 'not out of the woods,' says IEA chief
▼ + stars: | 2023-05-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope may have averted an energy crisis for now but is 'not out of the woods,' says IEA chiefFatih Birol, Executive Director of the International Energy Agency, speaks to CNBC's Martin Soong on the sidelines of the G-7 leaders' summit in Hiroshima, Japan. He says 60% of the increase in oil demand is expected to come from China, and outlines the energy risks that Europe faces.

☆ IEA should be 'very careful' about undermining key oil investments -OPEC chief
▼ + stars: | 2023-04-27 | by ( Maha El Dahan | ) www.reuters.com time to read: +3 min

Such comments could lead to oil market volatility in future, he said. Oil prices rose above $80 a barrel on the back of the decision, having fallen as low as $70 per barrel last month. Birol, in an interview with Bloomberg on Wednesday, said OPEC should be careful about pushing oil prices up as that would translate into a weaker global economy. OPEC+ and the IEA have jousted in recent months over their outlooks for global oil supply and demand. OPEC+ decided last year it would stop using data from the West's energy watchdog when assessing the state of the oil market.

☆ Oil falls 1% on recession fears, OPEC summer demand warning
▼ + stars: | 2023-04-13 | by ( Shariq Khan | ) www.reuters.com time to read: +3 min

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. However, minutes from the Fed's last policy meeting indicated that banking sector stress could tip the economy into recession, which would weaken U.S. oil demand. Also weighing on prices, the Organization of the Petroleum Exporting Countries (OPEC) flagged downside risks to summer oil demand in a monthly report on Thursday. Oil price declines were limited, however, as OPEC kept its forecast for global oil demand growth in 2023 unchanged. Signs of a demand recovery in China, the top importer of crude oil and products, provided more support for oil prices, Yawger said.

☆ Oil prices cool off multi-month highs on recession fears
▼ + stars: | 2023-04-13 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. However, minutes from the Fed's last policy meeting indicated that banking sector stress could tip the economy into recession, which would weaken U.S. oil demand. Oil price declines were limited, however, as OPEC kept its forecast for global oil demand growth in 2023 unchanged. Signs of a demand recovery in China, the top importer of crude oil and products, provided more support for oil prices, Yawger said. The executive director of the International Energy Agency expects the move to tighten supply in the second half of the year and push oil prices higher.

☆ Oil falls as investors cautious about U.S. recession risk
▼ + stars: | 2023-04-13 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +3 min

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File PhotoSINGAPORE, April 13 (Reuters) - Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil demand. The Biden administration plans to refill the U.S. Strategic Petroleum Reserve soon, and hopes to do it at lower oil prices, U.S. Energy Secretary Jennifer Granholm said on Wednesday. Still, the oil market was jolted higher two weeks ago after the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia agreed to curtail output. As a result, the global oil market could see tightness in the second half of 2023, which would push prices higher, said Fatih Birol, executive director of the International Energy Agency.

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File PhotoTOKYO, April 13 (Reuters) - Oil prices eased in early trading on Thursday after rising for the previous two sessions as investors remained cautious due to lingering concerns over a U.S. recession and weaker oil demand. Brent crude fell 19 cents, or 0.2%, at $87.14 a barrel by 0116 GMT, while U.S. West Texas Intermediate slid 16 cents, or 0.2%, to $83.10. However, the Fed's staff assessing the potential fallout of banking stress projected a "mild recession" later this year. Markets on Wednesday shrugged off a small build in U.S. crude oil stocks, attributing it in part to a congressionally mandated release of oil from the U.S. emergency reserve and lower exports at the start of the month.

☆ IEA chief says the OPEC+ production cut came at an 'unfortunate time'
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIEA chief says the OPEC+ production cut came at an 'unfortunate time'Fatih Birol, executive director of the International Energy Agency, says it comes as a "bad surprise" because the global economy is still "fragile."

☆ Oil rises 2% on lower-than-expected US inflation data
▼ + stars: | 2023-04-12 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +4 min

Prices rose about 2% on Tuesday. The CPI rose 6% year-on-year in February. Markets shrugged off a small build in U.S. crude oil stocks, attributing it in part to a congressionally mandated release of oil from the U.S. emergency reserve and lower exports at the start of the month. Meanwhile, the global oil market could see tightness in the second half of 2023, which would push oil prices higher, said Fatih Birol, executive director of the International Energy Agency. In a negative for oil demand, the International Monetary Fund on Tuesday trimmed its 2023 global growth outlook, citing the impact of higher interest rates.

☆ China rebound is the biggest unknown facing oil markets, IEA chief says
▼ + stars: | 2023-02-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The International Energy Agency's executive director said Friday that the biggest uncertainty facing global energy markets is the extent to which China rebounds from its extended closure. Currently, oil markets are "balanced," Fatih Birol told CNBC's Hadley Gamble at the Munich Security Conference. But producers are awaiting signals on forthcoming demand from the world's second largest economy and largest crude oil importer. "For me, the biggest answer to the energy markets in the next months to come is [from] China," Birol said, noting a major drop-off in the country's oil and gas demand during its pandemic lockdowns. Oil deliveries are expected to rise by 1.1 million barrels a day to hit 7.2 million barrels a day over the course of 2023, with total demand reaching a record 101.9 million barrels a day, the IEA noted.

☆ China's rebound is the biggest unknown that oil markets face, IEA chief says
▼ + stars: | 2023-02-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's rebound is the biggest unknown that oil markets face, IEA chief saysFatih Birol, executive director of the International Energy Agency, says China's rebound is the biggest unknown that oil markets face.

☆ China is the 'biggest uncertainty' in global oil demand, International Energy Agency says
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is the 'biggest uncertainty' in global oil demand, International Energy Agency saysFatih Birol, executive director of the International Energy Agency, says oil demand growth would depend on the extent of China's economic rebound.

☆ Air fares will have to rise to clean up aviation
▼ + stars: | 2023-01-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

He said that financiers and energy suppliers should invest in SAF production, including in emerging markets. The wealthy people in this room and wealthy nations should be funding the energy transition in aviation to help support developing countries,” he added. Holland-Kaye said that companies can play a major role accelerating the adoption of SAF because business travel accounts for about 30% of fuel used in aviation. In 2021, the industry pledged to replaced 10% of global jet fuel supply with SAF by 2030. Clean energy investments need a major boost if the world is to meet its climate goals, according to Fatih Birol, executive director of the International Energy Agency.

☆ America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive
▼ + stars: | 2022-10-28 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN Business —The relationship between the United States and Saudi Arabia is one of the most important on the planet. Biden visited Saudi Arabia over the summer and even fist-bumped Crown Prince Mohammed bin Salman. Saudi Arabia could respond to penalties from Washington with drastic steps of their own, ratcheting up the conflict further. Saudi Arabia is sitting on roughly $119 billion of US debt, according to Treasury Department data, making it the world’s 16th largest holder of Treasuries. All of this explains why a full-blown breakdown in relations between the United States and Saudi Arabia may be the last thing the fragile economy needs right now.

Dr. Fatih Birol, Executive Director of the International Energy Agency speaks during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel KuaSINGAPORE, Oct 25 (Reuters) - Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of "the first truly global energy crisis", the head of the International Energy Agency (IEA) said on Tuesday. But Birol also said the current energy crisis could be a turning point in the history of energy for accelerating clean energy sources and for forming a sustainable and secured energy system. "Energy security is the number one driver (of the energy transition)," said Birol, as countries see energy technologies and renewables as a solution. Register now for FREE unlimited access to Reuters.com RegisterReporting by Florence Tan, Muyu Xu and Emily Chow; Editing by Jacqueline Wong and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ All you need to know about the Nord Stream gas leaks — and why Europe suspects 'gross sabotage'
▼ + stars: | 2022-10-11 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

An initial crime scene investigation last week into what caused the gas leaks on the Nord Stream 1 and 2 pipelines reinforced suspicions of "gross sabotage." The explosions triggered four gas leaks at four locations — two in Denmark's exclusive economic zone and two in Sweden's exclusive economic zone. Neither of the Nord Stream pipelines was transporting gas at the time of the blasts, although they both contained pressurized methane — a potent greenhouse gas. A satellite image of the Nord Stream leak in the Baltic Sea, captured on Sept. 26, 2022. Environmental impactThe unexplained Nord Stream gas leaks pose serious questions about the incident's environmental impact.

☆ Opinion: IEA head: Electric cars are transforming the auto industry. That’s good news for the climate
▼ + stars: | 2022-09-23 | by ( Fatih Birol For Cnn Business Perspectives | ) edition.cnn.com time to read: +5 min

Transitioning to a cleaner and more secure energy system means tackling emissions across the major greenhouse gas emitting sectors — electricity, industry, transport and buildings. Taking into account the latest trends and government and business priorities worldwide, we now see incredible growth prospects for electric cars in the coming years. Electric cars’ cheaper running costs mean owners can often recoup the extra money they pay to purchase their vehicles within a few years. Expanding EV sales in economies beyond China, Europe and the United States will require more than carmakers’ efforts to broaden their electric offerings outside the major markets. Governments will need to push through policy reforms and provide financial support to help make EVs the most affordable option.

☆ Japanese support for a nuclear restart is at its highest since Fukushima disaster, says former IEA executive director
▼ + stars: | 2022-08-17 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

In a first for Japan since the Fukushima nuclear disaster in 2011, public support for a nuclear restart is now at more than 60%, said a former executive director of the International Energy Agency, citing a possible energy shortage and a "very cold winter" as reasons. "Japanese public support's more than 60%, and it was the first time ever that support of nuclear power is starting to come over 50% after (the) Fukushima accident," said Nobuo Tanaka, now the chair of the Innovation for Cool Earth Forum. Japanese Prime Minister Fumio Kishida announced in May that the country will take firm steps to restart idled nuclear power plants to stabilize energy supply and prices. In 2011, the Fukushima Daiichi nuclear power plant was hit by a massive earthquake and tsunami, which killed nearly 16,000 people and caused the world's worst nuclear disaster since Chernobyl in 1986. Though there have been reservations among the Japanese public over the use of nuclear energy, particularly when it comes to the issue of safety, Tanaka said the future of nuclear power is now safer, and stressed the importance of minimizing risk and maintaining "peaceful use."

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