“We are in the midst of the world’s first global energy crisis… and I think we may not have seen the worst yet,” Birol was quoted as saying by the agency. Bloomberg. He also predicted that the European winter “will be very, very difficult” and that it could have “consequences for the world economy.”
Still, the manager felt that, like the oil shocks of the 1970s, which fueled major advances in fuel efficiency and a boom in nuclear power, the world can see faster adoption of government policies that accelerate the transition to cleaner energy.
Meanwhile, in the same forum, the head of the United States Department of Energy, Jennifer Granholm, called for her country and its allies not to replace dependence on Russian energy with dependence on another supplier, in addition to diversifying their supply chains.
He warned that, for example, China’s dominance over various supply chains may make it vulnerable to american energy policyin a scenario where the Asian leader dominates around 80% of the solar energy supply chains, a figure that could increase to 95% in 2025, according to estimates by the IEA itself.
Also, China also leads in the use of lithium and wind power while exploring clean hydrogen technology.
“Our move to clean energy globally could be the greatest peace plan of all, we want and need to move to clean energy,” he stressed.
Source: Ambito
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