Building a world of
resilient communities.



IEA warns against possible acute oil shortage

PARIS, April 1 (Itar-Tass) -- The International Energy Agency (IEA) has come to the conclusion that the world economy is facing a serious threat of acute oil shortage. IEA experts have prepared a special report, due to be published within a few weeks, in which they warn the key oil consuming countries about the need for immediately taking tough energy-saving measures, if the daily oil supply to the world market is reduced by one to two million barrels.

The measures, suggested by IEA, include the reduction of a working week, a ban on using privately owned vehicles, the introduction of a 90-kilometre speed limit, the reduction of public transport fare and the encouragement of staff members to work at home, using Internet.

The conclusions drawn by the IEA experts reflect their growing concern over the macroeconomic dynamics taking shape on the world oil market. According to the information of Itar-Tass, the latest studies show that oil shortage will become more and more acute within the coming few months.

As a result of it, IEA insists now on the changing of one of its basic principles. Its founding documents say that tough energy-saving measures should be taken by oil consuming countries, if oil deliveries to the world market are reduced by 7 per cent, which is now equal to six million barrels a day. IEA is going to reduce the amount to one or two million barrels.

The report, prepared by IEA, will be submitted for discussion at a meeting of ministers of energy of the IEA member countries, which will be held next month.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Review: 7 key scenes in Leonardo DiCaprio’s climate film Before the Flood

Before the Flood, a new feature-length documentary presented and produced by …

Transition in Cities  

It is widely assumed that the ongoing migration of rural peoples to …

Peak Oil Review: A Midweek Update - 20th Oct 2016

 A midweek update. This week’s EIA stocks report gave a …

Oil & Money: Tackling Corruption and Climate Change

This week, senior executives of the oil and gas industry will be meeting at …

CCC: UK must Act Now to Secure Zero-Carbon Heat by 2050

UK heating must be virtually zero-carbon by 2050, says the Committee on …

Peak Oil Review - Oct 17, 2016

 A weekly roundup of peak oil news, including: -Quote of the week …

Deepwater Horizon and our emerging 'normal' catastrophes

We think of the world we live in as static and linear rather than dynamic …