Business and Economy
World in major energy crisis: International Energy Agency head
Birol said since Russia started the war on Ukraine in February, the whole energy system has been in disarray. (Pexels photo)
ANKARA — The world has never witnessed such a major energy crisis in terms of its depth and its complexity, Fatih Birol, the executive director of the International Energy Agency (IEA), said on Tuesday.
Birol, speaking at a global energy forum in Sydney, said the world is in the middle of the first global energy crisis.
“It is interwoven by many factors, including geopolitics. Oil, natural gas, coal, electricity prices, they’re all going up off the roof. Why? Very simple. Russia, the country that invaded Ukraine, is the largest exporter of oil and natural gas.” he said.
Birol said since Russia started the war on Ukraine in February, the whole energy system has been in disarray.
“And as a result, we are seeing that the entire energy system is going through a crisis,” he added.
Birol said this winter in Europe will be “very, very difficult,” adding this is a major concern and this may have serious implications for the global economy.
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Reynaldo Leo
July 13, 2022 at 11:19 PM
Pati ang pilipinas ay apektado rito, minsan kaunting ulan lamang nawawala na ang power dulot nang malakas na ulan o di kaya dahil kapag mainet ang panahon, nagkakaroon nang kakulangan sa supply na siyang nakakabahala dahil sa lahat nang ating ginagamit pang araw araw ay gamit nang technolohiya na kailangan nang power.
Ivan Cris Dumaguing Ongco
July 14, 2022 at 7:00 PM
It is crucial that we consume less energy by improving and modernizing energy infrastructure such as smart grid solutions, and smart cities.