US EditionWork from home, avoid air travel to deal with higher energy prices, IEA says
The International Energy Agency recommends demand-cutting measures including work from home and lower speeds to mitigate oil shortage risks after a 400 million-barrel release proved inadequate.
- On Friday, the International Energy Agency urged working from home, lower speeds and avoiding air travel to cut oil demand after warning a 400 million-barrel release 10 days earlier would not suffice.
- The U.S.-Israel war with Iran has pushed up energy prices, and the IEA warned the potential closure of the Strait of Hormuz threatens supplies, prompting emergency actions.
- Asking workers to stay home could reduce car oil consumption by up to 6 per cent, and cutting speed limits by 10km/h would lower petrol use by 5-10 per cent, with road transport about 45 per cent of global fuel demand.
- The Albanese government extended subsidies to Australia’s last two oil refineries, while Penny Wong and Madeleine King seek additional supplies amid import uncertainties from mid-April, following China's export halts earlier this month.
- The IEA's new report offers immediate demand-side measures, and Fatih Birol will speak at the National Press Club on Monday, said 'In addition to this, today's report provides a menu of immediate and concrete measures that can be taken on the demand side by governments, businesses and households to shelter consumers from the impacts of this crisis'.
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86 Articles
The supply growth measures will not be sufficient to compensate "the greatest obstacle to supplying global oil market history", warns the International Energy Agency (IAE), which calls for immediate action to reduce consumption in the context of the enlargement of the Middle East conflict, the CNBC transmits, according to News.ro. The International Energy Agency (IAE) underlines...
IEA recommends work from home, avoid air travel over energy cost
The International Energy Agency (IEA), which this month agreed a record release of oil from strategic stockpiles to deal with the effects of the US-Israeli war on Iran, outlined on Friday proposals to ease oil price pressures on consumers, such as working-from-home and avoiding air travel. The US-Israel war on Iran has driven up energy prices, causing concerns over inflation across the world. The IEA said its proposals were actions that governme…
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