You are currently browsing the tag archive for the ‘iea’ tag.
A leading energy economist in the International Energy Agency reported today, in an interview with The Independent, that the world’s oil supply has been depleting almost twice as fast as their 2007 projection, and that an energy supply crisis is looming in the next five years that will choke off any economic recovery.
“We have to leave oil before oil leaves us,” said Dr. Fatih Birol of the IEA. “The earlier we start, the better, because all of our economic and social system is based on oil, so to change from that will take a lot of time and a lot of money and we should take this issue very seriously,” he said.
It’s been over two years now since the World Without Oil game got people to collectively imagine our next oil crisis, and prepare for this day. For a video tour of your near future, try the official WWO videos by Kalwithoutoil. To see the full WWO archive, go here. Or for your own little refresher course in how to survive an oil crisis, review our WWO lesson plans? Photo by Napalm filled tires
As gas prices dip below $2 a gallon in parts of the U.S., the question arises: will Americans be fooled? Not if they actually pay attention to the forecasts: “Although prices may stay low for a time, ‘it is becoming increasingly apparent that the era of cheap oil is over,’” says the Financial Times about a report to be released this week by the International Energy Agency, according to this report from IEEE Spectrum. The IEA forecasts oil back to $100 a barrel and up as soon as the recession-caused glut passes.
Long-term, the IEA forecasts oil rising to $200 a barrel by 2030 – or it would forecast such a future, except that, in their words, “current global trends in energy supply and consumption are patently unsustainable.” As Bill Sweet of IEEE goes on to explain, “ultimately the IEA is saying that what it is predicting to happen will not actually happen because it cannot happen.” The IEA is acknowledging that you cannot just extend the graph out for another 20 years, that the reality the graph depicts derails the graph’s own underlying assumptions about prices, economic and population growth, and so on.
This is a remarkable statement, and worth repeating: the world’s energy “business as usual” will not survive for two more decades, and the energy infrastructure as we know it will be changed by the turmoil caused by market pressures on oil supply. This of course is not news to those familiar with the World Without Oil game. But it is news to see it openly said by as august an agency as the IEA. Lesson: it’s not a moment too soon for the U.S. to embark on radical reconsiderations of its energy future (pdf). Photo by maistora via Flickr.