IEA chief: ‘We are facing the biggest energy security threat in history’
“We are facing the biggest energy security threat in history,” Fatih Birol, the head of the International Energy Agency (IEA), told CNBC Thursday.
“As of today, we’ve lost 13 million barrels per day of oil … and there are major disruptions in vital commodities,” he told Steve Sedgwick virtually at CNBC’s CONVERGE LIVE in Singapore.
Birol has previously warned that the Iran war and ongoing closure of the Strait of Hormuz would result in “the largest energy crisis we have ever faced” and urged governments to bolster their resilience with alternative energy sources.
“I expect, first of all, nuclear power, will get a boost … Renewables will grow very strongly — solar, wind and others — [and] I expect electric cars will benefit from this,” he noted. Alternative fossil fuels could also make a comeback, he noted.
“In some countries, I expect the coal may also see a push and go back up, especially in some big countries in Asia.” [Continue reading…]