London CNN —Global demand for oil, natural gas and coal — and the carbon pollution they generate — are expected to peak later this decade, according to a new report by the International Energy Agency.
Driving the shift will be the “phenomenal rise” of clean sources of energy, the Paris-based agency said in its annual World Energy Outlook report, published Tuesday.
The world’s second biggest economy — and largest energy consumer — has reached an “inflection point,” the IEA said, with its total energy demand set to peak around the middle of the decade.
“We are today facing a major geopolitical crisis in the Middle East that could shock oil markets once again and deeply, because many oil producing countries are in that region,” Birol told reporters.
“This comes on top of the insecurity that we had in the natural gas markets… after the invasion of Ukraine by Russia,” he added.
Persons:
it’s, ’ —, Fatih Birol, —, Hess, Brent, Birol, ” Birol, ”
Organizations:
London CNN — Global, International Energy Agency, Energy, ”, Organization of, Petroleum, —, ExxonMobil, Chevron, IEA
Locations:
Paris, China, Israel, Ukraine, Russia, Northern Hemisphere