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OPEC rejects IEA’s forecasts about fossil fuels use

Press TV – September 14, 2023

The Organization of the Petroleum Exporting Countries (OPEC) has rejected projections by the International Energy Agency’s (IEA) suggesting that the global consumption of fossil fuels will peak in 2030 before dropping to record lows because of an increase in the use of the renewables.

OPEC Secretary General Haitham Al Ghais said in a statement issued on Thursday that the IEA’s recent forecast about the decline in the use of fossil fuels in the next decade would only worsen the situation in international energy markets.

“It would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world,” said the statement.

In an article in the Financial Times published on Tuesday, IEA Executive Director Fatih Birol said estimates by the Agency shows that the age of growth in use of fossil fuels “is set to come to an end this decade.”

“This is the first time that a peak in demand is visible for each fuel this decade — earlier than many people anticipated,” Birol said in the opinion piece, adding that demand for the three fossil fuels, namely coal, oil and natural gas, is set to hit a peak in the coming years.

However, the OPEC statement called the forecasted decline “dangerous”, saying such statements normally lead to calls to stop new oil and gas investments.

“Such narratives only set the global energy system up to fail spectacularly,” said Al Ghais, adding that some 80% of the world’s energy mix still comes from fossil fuels, the same as three decades ago.

The OPEC chief said that IEA’s estimates had failed to consider the technological progress that has taken place in the oil and gas industry to cut emissions.

September 16, 2023 - Posted by | Economics, Malthusian Ideology, Phony Scarcity

1 Comment »

  1. If OPEC shut off the spigot to Western nations for even a day it would change the dynamic. So far the globalists have gotten away with their Malthusian depopulation plans because they still have power of the press with which to brainwash the masses into supporting their insane views.
    But behold what happens to governments that obeys the globalists like Sri Lanka’s did after it cut imports of Nitrogen fertilizer dictated by the Paris Accords. Chaos, starvation, and death followed which sparked a popular revolt that forced President Rajapaksa to flee the country. And Holland too, where the Rutte government fell in the face of widespread revolt by farmers after it attempted to impose the same genocidal policies that brought down the Sri Lanka government!

    Let it be a warning to governments including the Biden government that in the words of Abraham Lincoln, “you can fool some of the people all the time and all the people some of the time, but you can’t fool all the people all the time.”

    Like

    Thomas Lee Simpson's avatar Comment by Thomas Lee Simpson | September 18, 2023 | Reply


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