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Oil prices rise as demand improves, supplies tighten
  + stars: | 2021-06-14 | by ( Bozorgmehr Sharafedin | ) www.reuters.com sentiment -0.82   time to read: +2 min
LONDON (Reuters) -Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. REUTERS/Nick OxfordBrent was up 85 cents, or 1.2%, at $73.54 a barrel by 0908 GMT, their highest since April 2019. IEA urged the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, to increase output to meet the rising demand. The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020, maintaining strong compliance with agreed targets in May. [RIG/U]It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.
Persons: Nick Oxford Brent, , , Stephen Brennock, Baker Hughes Organizations: REUTERS, . West Texas Intermediate, International Energy Agency, IEA, Organization of, Petroleum Locations: Midland , Texas, U.S, North America, Europe, OPEC, . U.S
NEW YORK (Reuters) - Oil prices rose on Monday, hitting their highest levels in more than two years, supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. FILE PHOTO: The moon rises behind the storage tanks of a local oil refinery in Omsk, Russia June 5, 2020. “The two leading crude markers are trading at (almost) two-and-a-half-year highs amid a potent bullish cocktail of demand optimism and OPEC+ supply cuts,” said Stephen Brennock of oil broker PVM. Graphic: Oil Demand/Supply balance -On the supply side, heavy maintenance seasons in Canada and the North Sea also helped prices stay high, said Rystad Energy analyst Louise Dickson. [RIG/U]It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.
Persons: Alexey Malgavko Brent, , , Stephen Brennock, Louise Dickson, ” Dickson, Baker Hughes Organizations: YORK, REUTERS, . West Texas Intermediate, International Energy Agency, IEA, Organization of, Petroleum, Rystad Energy Locations: Omsk, Russia, North America, Europe, OPEC, Canada, North, U.S
NEW YORK (Reuters) - Oil prices ended mostly unchanged on Monday, after hitting their highest levels in more than two years, as growing U.S. crude production and Britain’s delayed COVID-19 reopening dampened expectations for fuel demand growth and tighter supplies. FILE PHOTO: The moon rises behind the storage tanks of a local oil refinery in Omsk, Russia June 5, 2020. U.S. West Texas Intermediate fell 3 cents to settle at $70.88 a barrel, after earlier touching $71.78 a barrel, its highest since October 2018. Graphic: Oil Demand/Supply balance -Heavy maintenance seasons in Canada and the North Sea also have helped prices, said Rystad Energy analyst Louise Dickson. The firm estimates about 330,000 bpd of oil and condensate supply is offline at Canada oil sands projects, along with another 370,000 bpd offline in the North Sea.
Persons: Britain’s, Alexey Malgavko, , , Phil Flynn, ” Brent, Louise Dickson Organizations: YORK, REUTERS, U.S . Energy Information Administration, Price Futures Group, . West Texas Intermediate, International Energy Agency, IEA, Organization of, Petroleum, Rystad Energy Locations: Omsk, Russia, Chicago, OPEC, North America, Europe, Britain, Canada, North
IEA sees OPEC+ spare capacity gaining slightly in 2022
  + stars: | 2021-06-11 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Dado Ruvic/File PhotoThe International Energy Agency expects spare capacity in the OPEC+ alliance to rise by 180,000 barrels per day (bpd) next year to 50.55 million bpd, driven by hikes from Mideast Gulf producers. Capacity is expected to slip for some West African producers, IEA data shows. The IEA anticipates the call on OPEC+ crude to rise by 1.2 million bpd to 43.3 million bpd next year. For the fourth quarters of this year and next, however, the agency expects the figure to rise to 44 million bpd. "OPEC+ effective spare capacity (excluding shut-in Iranian crude) in 2021 would fall to 5 million bpd in the fourth quarter but in 2022 it could stand at 5.1 million bpd given the planned capacity expansions," the IEA said.
Persons: Dado Organizations: REUTERS, International Energy Agency, Mideast Gulf, Organization of, Petroleum Export, West, IEA, ING, Thomson Locations: OPEC, Saudi Arabia, Kuwait, UAE, Iraq, Russia
Slow Vaccinations in Developing World Set to Drag on Oil Demand
  + stars: | 2021-06-11 | by ( David Hodari | ) www.wsj.com + 0.00   time to read: +4 min
At the same time, the world has finally burned off the glut of oil it built up when pandemic restrictions grounded flights and shut factories and restaurants last spring. Photo: christian hartmann/ReutersOil prices wavered early Friday, with Brent crude oil, the global benchmark, up 0.3% at $72.71 a barrel. Both benchmarks hit fresh multiyear highs on Wednesday, with optimism about resurgent demand having held Brent prices above $70 a barrel in recent weeks. Still, the status of Iranian supply represents an unknown for global producers. Should the parties reach an agreement in the coming weeks, Iranian production could rise to full capacity of 3.8 million barrels a day—up 1.4 million barrels from current levels—by the end of next year, the report added.
Persons: hartmann, Brent, Biden’s, David Hodari Organizations: International Energy Agency, IEA, Organization for, Petroleum, Reuters, Brent, Texas Intermediate, U.S Locations: Brazil, India, Malaysia, Covid, Paris, U.S
OPEC+ will need to boost output to meet 2022 demand recovery -IEA
  + stars: | 2021-06-11 | by ( Noah Browning | ) www.reuters.com sentiment -0.99   time to read: +2 min
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. OPEC+ agreed in April to gradually ease oil output cuts from May to July and confirmed the decision at a meeting on June 1. "If sanctions on Iran are lifted, an additional 1.4 million bpd could be brought to market in relatively short order." "This roadmap notes that most pledges by countries are not yet underpinned by near‐term policies and measures," the IEA said on Friday. "Oil demand looks set to continue to rise, underlining the enormous effort required to get on track to reach stated ambitions."
Persons: Ramzi Boudina Organizations: Organization of, Petroleum, REUTERS, International Energy Agency, OPEC, IEA, Thomson Locations: Algiers, Algeria, OPEC, Paris, Saudi Arabia, Russia, Iran,
Mining Companies Call Themselves Green in Push for Investor Cash
  + stars: | 2021-06-08 | by ( Scott Patterson | ) www.wsj.com + 0.67   time to read: +1 min
Mining companies are trying to tap into the flood of cash targeting green investments by touting their production of materials that go into wind turbines, power lines and batteries. They are playing down the environmental impact of their operations and, for many of them, their big businesses mining coal. Demand for lithium used in batteries, for instance, is expected to expand by a factor of 30 by 2030, according to the IEA. Cobalt and nickel also will be needed for batteries while copper will be used by transmission lines, electric vehicles and wind turbines. London-based Anglo American “will be part of the solution” by providing the commodities required by the transition away from fossil fuels, he said.
Persons: , Mark Wade, Mark Cutifani Organizations: International Energy Agency, IEA, , Allianz Global Investors, American, of America Locations: London, American
Around the world, national and municipal governments are attempting to slash emissions and boost urban air quality, with many putting their faith in a growing sector: battery electric vehicles. Looking ahead, the IEA says the number of electric cars, buses, vans and heavy trucks on roads — its projection does not include two- and three-wheeled electric vehicles — is expected to hit 145 million by 2030. A changing world As the number of electric vehicles on the planet's roads increases, society will need to adapt. Another area where we will notice change relates to noise: As well as boasting zero tailpipe emissions, electric vehicles are far quieter than their diesel and gasoline cousins. In the European Union and U.K., for example, all new electric and hybrid vehicles will have to use an acoustic vehicle alerting system, or AVAS, from July 1.
Persons: Martin Pickard, that's, Zoe Courtney, Courtney, Bodgener, We're Organizations: International Energy Agency, IEA, Royal National Institute of Blind, CNBC, European Union, U.K
LONDON — Two of the world's largest oil-producing countries plan to defy the International Energy Agency's recommendations and continue investing in oil and gas, rejecting calls to drastically scale back the use of fossil fuels despite a deepening climate crisis. Almost 200 countries, including Russia and Saudi Arabia, ratified the Paris climate accord in 2015, agreeing to pursue efforts to limit the planet's temperature increase to 1.5 degrees Celsius above pre-industrial levels. The agreement requires net-zero greenhouse gas emissions by 2050. To be sure, the top global watchdog says halting developments in oil, gas and coal is fundamental to reaching the internationally agreed goal of net-zero emissions. It is also unrealistic," Novak told CNBC's Hadley Gamble, according to a translation.
Persons: Alexander Novak, Abdulaziz bin Salman Al Saud, Novak, CNBC's Hadley Gamble Organizations: Saudi Arabia's Energy, St Petersburg, Economic, ExpoForum, Exhibition, International Energy, St ., IEA Locations: Paris, Russia, Saudi Arabia, St, St . Petersburg, Russian
Rebounding energy investment to fall short of net zero path - IEA
  + stars: | 2021-06-02 | by ( Noah Browning | ) www.reuters.com sentiment -0.91   time to read: +2 min
International Energy Agency (IEA) chief Fatih Birol speaks at a news conference on the sidelines of G20 Energy Ministers Meeting in Istanbul, Turkey, October 2, 2015. REUTERS/Osman Orsal/File PhotoInvestment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals. "The rebound in energy investment is a welcome sign, and I’m encouraged to see more of it flowing towards renewables,” Fatih Birol, chief of the Paris-based watchdog, said in an introduction to the annual World Energy Investment report. The IEA issued a blockbuster warning to the energy industry last month, saying investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century. Its call garnered few blanket commitments, even by the club of developed nations that requested the zero carbon roadmap.
Persons: Fatih Birol, Osman Orsal, I’m, ” Fatih Birol, Birol Organizations: Energy Agency, G20 Energy, REUTERS, International Energy Agency, , Energy Investment, IEA, Thomson Locations: Istanbul, Turkey, Paris, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClean energy investments need to triple in order to meet climate targets, IEA's Birol saysFatih Birol, executive director of the International Energy Agency, discusses the group's World Energy Investment 2021 report.
Persons: IEA's Birol, Fatih Birol Organizations: International Energy Agency, Energy
OPEC, Russia seen gaining more power with Shell Dutch ruling
  + stars: | 2021-06-01 | by ( Dmitry Zhdannikov | ) www.reuters.com + 0.00   time to read: +6 min
FILE PHOTO: The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia’s Gazprom and Rosneft. Climate activists scored a major victory with a Dutch court ruling requiring Royal Dutch Shell to drastically cut emissions, which in effect means cutting oil and gas output. A senior Saudi Aramco staffer said the court ruling would make it easier for OPEC to ramp up production. Western oil majors control around 15% of global output, while OPEC and Russia have a share of around 40 percent.
Persons: Toby Melville, , Amrita Sen, Nick Stansbury, Verisk Maplecroft, Organizations: Western, Royal, Shell, REUTERS, ExxonMobil, Chevron, Saudi, Abu Dhabi National Oil Company, Gazprom, of, Petroleum, Energy, Climate, Exxon Mobil Corp, Chevron Corp, Adnoc, Saudi Aramco, OPEC, Aramco, BP, U.N, Saudi bourse, International Energy Agency, Paris, Legal, European Union, IEA Locations: Saudi Arabia, Abu Dhabi, Russia, London, Saudi Aramco, Rosneft, Saudi, Asia, China, India, West, United States, Eastern
OPEC, Russia seen gaining from climate activist wins
  + stars: | 2021-06-01 | by ( Dmitry Zhdannikov | ) www.reuters.com + 0.00   time to read: +5 min
Climate activists scored a major victory with a Dutch court ruling requiring Shell to drastically cut emissions, which in effect means cutting oil and gas output. Why should I take it seriously?” Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday. Western oil majors control around 15% of global output, while OPEC and Russia have a share of around 40 percent. PEAK DIVIDENDSSince 1990, global oil consumption has grown to 100 million barrels per day from 65 million bpd, with Asia providing the lion’s share of growth. Legal & General, one of the world’s largest fund managers, holds assets in most oil majors.
Persons: Ahmed Jadallah, , Amrita Sen, Prince Abdulaziz bin Salman, , Nick Stansbury, ” Stansbury, Verisk Maplecroft Organizations: Western, REUTERS, Shell, ExxonMobil, Chevron, Saudi, Abu Dhabi National Oil Co, Gazprom, of, Petroleum, Exxon Mobil, International Energy Agency, IEA, Saudi Energy, Adnoc, BP, U.N, Saudi bourse, Paris, Legal, European Union Locations: Saudi Arabia, Abu Dhabi, Russia, Saudi Aramco, Rosneft, Saudi, OPEC, Asia, China, India, West, United States, Eastern
Unlike IEA, Rystad Energy sees need for hundreds of new oilfields
  + stars: | 2021-05-28 | by ( ) www.reuters.com sentiment -0.93   time to read: +2 min
REUTERS/Thomas White/IllustrationThousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Rystad Energy said on Friday. read moreThe IEA's scenario sees oil demand declining to 24 million barrels per day (bpd) by 2050, while Rystad sees oil demand falling to 36 million bpd by the same time. Rystad said developments were needed to deliver about 10 million bpd in 2030s, as it saw a slower fall in demand than the IEA, which the consultancy said was overestimating the impact of biofuel growth and behavioural changes. Even if oil demand remains at 36 million bpd in 2050, it should be possible to reach the target of limiting the temperature rise to 1.5 degrees Celsius compared to pre-industrial times, it added. read moreThe Organization of the Petroleum Exporting Countries (OPEC) has said a lack of investments in new projects could lead to more volatile prices.
Persons: Thomas White, Rystad Organizations: REUTERS, Rystad Energy, International Energy Agency, of, Petroleum, Thomson Locations: Oslo, Norway
UNITED KINGDOMAlok Sharma, the UK minister presiding over the global climate talks in Scotland who requested the IEA publish its Net Zero report, stopped short of committing to the fossil fuel ban. “New @IEA report is an important guide for how the energy sector can reach net-zero by 2050,” he tweeted. “We need to get out of oil, gas, and coal. And I feel very supported in this by the IEA’s recent net zero report. OPECOil producer club OPEC said the IEA’s recommendations on curbing fossil fuel emissions could lead to oil-price volatility if it is acted on.
Persons: Marko Djurica, , Alok Sharma, ” Sharma, Sharma, Erna Solberg, Tina Bru, Gina McCarthy, I’m, John Kerry, , Frans Timmermans, “ It’s, Akihisa Matsuda Organizations: Reuters, REUTERS, International Energy Agency, United Nations, European Union, UNITED, IEA, North, NORWAY Norwegian, Energy, UNITED STATES White, Japan’s Ministry, Economy, Trade, Industry, OPEC Oil, OPEC Locations: Belgrade, Glasgow, Scotland, United States, Britain, Canada, France, Germany, Italy, Japan, NORWAY, Western, Norway, U.S, JAPAN, China, India
Bursting gas bubble leaves hierarchy of pain
  + stars: | 2021-05-21 | by ( Ed Cropley | ) www.reuters.com + 0.00   time to read: +3 min
That implied mid-century demand around 2020’s 3.8 trillion cubic metres. In February McKinsey predicted a 6% increase in gas demand by 2050. McKinsey assumes LNG will be 23% of the gas market by 2050. If the IEA is right, that means 400 billion cubic metres of LNG, more than 15% below today. - The IEA said demand for natural gas would bounce back from its 2020 dip, but peak in the middle of the decade at 4.3 trillion cubic metres, before dropping to 1.75 trillion cubic metres in 2050.
Persons: Andrew Cullen, Qatar –, Wood Mackenzie Organizations: Watford, REUTERS, Royal, Shell, International Energy Agency, McKinsey, BP, Boston Consulting, IEA Locations: Watford City , North Dakota, Qatar, United States, Russia, Australia
Column: Tin squeeze highlights critical minerals supply problems
  + stars: | 2021-05-19 | by ( Andy Home | ) www.reuters.com + 0.00   time to read: +7 min
REUTERS/Lucas JacksonAlthough designated a critical mineral by both the United States and China, tin has a habit of sliding between the gaps of the decarbonisation narrative. The forgotten critical mineral is also a harbinger of the pressures to come across the critical minerals spectrum. SUPPLY CRUNCHLondon Metal Exchange (LME) three-month tin hit a 10-year high of $30,650 per tonne on Tuesday. (“2020 Report on Global Tin Reserves and Resources”)That is almost certainly a significant undercount given a lack of reporting by state producers and the prevalence of ASM in the tin supply chain. Because the current market squeeze doesn’t bode well for future reliability of supply of this particular critical mineral.
Persons: Lucas Jackson, , bode Organizations: International Energy, REUTERS, IEA, Minerals, London Metal Exchange, ASM, Metal, United States Defense Logistics Agency, International Tin Association, ITA, The, Global Tin Reserves, Resources, PT Timah, BHP Locations: Alitak , Alaska, United States, China, Rotterdam, Fastmarkets, Baltimore, Brazil, Wa, Myanmar, Indonesia, Banka, Belitung, Congo, Rio Tinto
Cars move on a road during a day with polluted air, following the outbreak of the coronavirus disease (COVID-19), in Beijing, China February 13, 2021. Akihisa Matsuda, the deputy director of international affairs at Japan's Ministry of Economy, Trade and Industry (METI), said the government has no plans to immediately stop oil, gas and coal investments. Japan was the region's third-largest carbon emitter in 2019, after China and India, according to the BP Statistical Review of Energy. Australia's top oil and gas industry and mining lobby groups said there was "no one size fits all" for decarbonisation. Cutting finance for oil, gas and coal without considering efficiency and competitiveness would "set back the Philippines' aspiration to join the ranks of upper middle-income countries," he said.
Persons: Carlos Garcia Rawlins, Akihisa Matsuda, Andrew McConville, Angus Taylor, Alfonso Cusi Organizations: REUTERS, International Energy, IEA, . Energy, Japan's Ministry, Economy, Trade, Industry, BP, Energy, Petroleum Production, Exploration Association, Woodside Petroleum, Woodside, Australia, Thomson Locations: Beijing, China, Australia, Japan, Philippines, India, Woodside
Energy agency: End new fossil fuel supply investments
  + stars: | 2021-05-18 | by ( The Associated Press | ) www.nbcnews.com + 0.00   time to read: +4 min
A report by the International Energy Agency says immediate action is needed to reshape the world’s energy sector in order to meet ambitious climate goals by 2050, including ending investments in new coal mines, oil and gas wells. The Paris-based agency said in a report released Tuesday that it has determined there is a narrow but viable pathway for building a global energy sector with net zero greenhouse gas emissions by 2050. The IEA report sets out 400 steps needed to transform how energy is produced, transported and used. Her co-author, Timur Gul, said that while the technologies exist to decarbonize the energy sector, they aren’t yet available for sectors such as aviation or heavy industry. Experts say achieving net zero emissions across all parts of the economy is essential to meet the Paris climate accord’s goal of keeping global warming below 1.5 degrees Celsius (2.7 Fahrenheit) by the end of the century compared with pre-industrial times.
Persons: Fatih Birol, ” Birol, Dave Jones, Laura Cozzi, Timur Gul, , Gul, Cozzi Organizations: International Energy Agency, European Union, IEA Locations: Paris, United States, North America, Europe, East Asia, China, India, South Africa
Stop New Oil Investments to Hit Net-Zero Emissions, IEA Says
  + stars: | 2021-05-18 | by ( David Hodari | ) www.wsj.com sentiment -1.00   time to read: +1 min
Investment in new fossil-fuel supply projects must immediately cease if the world is going to slash net carbon emissions to zero by 2050, the International Energy Agency said Tuesday. The IEA said hitting net-zero emissions is crucial in limiting the rise in global temperatures to 1.5 degrees Celsius above preindustrial levels—a goal laid out in the 2015 Paris climate agreement. The U.S. rejoined that agreement earlier this year and is proposing to halve its emissions by the end of the decade. Major companies across several high-polluting sectors have set similar net-zero goals ahead of the United Nations’ COP26 climate conference later this year. However, the IEA said that climate pledges by governments so far—even if fully achieved—would fall well short of reaching net-zero emissions by the middle of this century.
Organizations: International Energy Agency, IEA, U.S, European Union, United Nations Locations: Paris
Radical change needed to reach net zero emissions - IEA
  + stars: | 2021-05-18 | by ( Nina Chestney | ) www.reuters.com + 0.00   time to read: +3 min
The window of opportunity for reaching net zero emissions by mid-century is narrowing unless the world radically changes the way energy is produced, used and transported, the International Energy Agency (IEA) said on Tuesday. A global climate pact agreed in 2015 to cap the rise in temperatures to as close as possible to 1.5 degrees Celsius to avoid the most devastating impacts of climate change, which requires achieving net zero greenhouse gas emissions by 2050. "The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects," Fatih Birol, the IEA's executive director, told Reuters. To achieve net zero, by 2035, there should also be no sales of new internal combustion engine passenger cars and the global electricity sector must reach net zero emissions by 2040, the IEA said.
Persons: Fatih Birol Organizations: International Energy Agency, Reuters, Scientists, IEA, International Monetary Fund, Thomson Locations: 2.1C, Scotland
To prevent that, the IEA says these milestones must be hit:Immediate stop to new gas and oil projects. A studio makes sense because MGM projects could find a home on Prime Video. Business travel has disappeared. "For a lot of people, frequent business travel has become more of a burden than a perk," said Scott Cohen, a professor at the University of Surrey, told my CNN Business colleague Will Godley. Investor insight: A weak recovery in business travel would be troubling for airlines, which have already seen their finances stretched to breaking point by the pandemic.
Persons: Dave Jones, Jones, Joe Biden, Glass Lewis, Bell, Scott Cohen, Will Godley Organizations: CNN Business, Bell, CNN, International Energy Agency, IEA, Royal, Shell, Exxon Mobil, Exxon, Reuters, Netflix, Discovery Communications, MGM, New York Times, Financial Times, Amazon, Prime, University of Surrey, Baidu, Walmart, Target, Cisco, L Brands Locations: London, Paris, United States, Britain, Japan, Canada
According to the IEA's roadmap to net-zero, over 400 "milestones" will need to be achieved if the 2050 goal is to be met. Solar, according to the IEA's roadmap, will become the planet's "single largest source of total energy supply" by the middle of this century. Fossil fuels, by contrast, will see their share "fall from almost four-fifths of total energy supply today to slightly over one-fifth." The shadow of the Paris Agreement looms large over the IEA's report. The reality on the ground shows just how challenging the IEA's roadmap is.
Persons: Fatih Birol, Birol, It's Organizations: International Energy Agency, United Nations, Energy, U.S . Energy, Administration Locations: Paris, Scottish, Glasgow, U.S
IEA's Fatih Birol: The path to net zero is a daunting task
  + stars: | 2021-05-18 | by ( ) edition.cnn.com sentiment -0.95   time to read: 1 min
Executive Director Fatih Birol discusses The International Energy Agency's report on how to reach net zero carbon emissions by 2050, saying it "requires the transformation of our energy system in a very short period of time." Source: CNNBusiness
Persons: Fatih Birol Organizations: Energy
Energy consultancy Wood Mackenzie forecast that renewables are set to provide 60% of world energy demand by 2030. For this to succeed, governments need to start setting up regulations and frameworks to deal with issues like frequency control, said Gero Farruggio, head of global renewables at Rystad Energy. Along with a negative public perception, nuclear energy is seen as less economical and slower to reverse carbon emissions, even as existing fossil-fueled plants continue to emit CO2 while awaiting substitution. Nuclear energy has a role to play, but it won't be "leading the charge in the near term," IEA's Gould said, adding that investments in nuclear energy by advanced economies had reduced considerably, with China being the only major growth area. "What we don't know is whether this transition will be a soft evolution – or indeed a revolution over the next five to 10 years."
Persons: Pascal, Tim Gould, Wood Mackenzie, Wood, Simon Flowers, Gauri Singh, IRENA, David Holmes, John Markus Lervik, Lervik, Assaad Razzouk, Philip Lowe, IRENA's Singh, Gero Farruggio, Flowers, IEA's Gould, Farruggio Organizations: Reuters Global Markets, International Energy Agency, . Energy, International Renewable Energy Agency, Dell Technologies, Sustainable Resources, World Energy, Energy, Rystad Energy, Thomson Locations: Graincourt, France, decarbonise, Paris, China
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