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World Energy Outlook

28 July 2014, DAWN

Ever since generating bold headlines globally when energy guru, dear friend, Fatih Birol pointed out while presenting the IEA World Energy Outlook 2012 that the US was on its way to overtake Saudi Arabia in crude output, the agency has been attempting to tame expectations. A year later, unveiling the WEO-2013 last November in London, Birol insisted on terming the US shale “a surge, rather than revolution.”

27 July 2014, Saudi Gazette

“I think not only in the United States, but also in Europe, many people believe that after the shale revolution, the importance of the Middle East is diminishing,” Birol told Houston Chronicle earlier this year. “I think this is not only wrong from an economic point of view, but also from a policy point of view. It is misleading.” The result of downplaying the significance of the Middle East could be substantial, he underlined.

18 July 2014, Forbes

Long held tenets of the oil and gas sector are being rewritten, but the Middle East remains central to the wider market, according to Dr Fatih Birol, Chief Economist and Director of Global Energy Economics at the International Energy Agency (IEA).

18 July 2014, Penn Energy

The European thermal power plant market is “almost uninvestable” at the moment according to Fatih Birol, chief economist of the International Energy Agency. But he warned that this situation would have to change as he predicts 100 GW of new thermal power will be needed in Europe by 2025 to “safeguard reliability”.

17 July 2014, Bloomberg

Manufacturers of petrochemicals, aluminum, fertilizers and plastics are leaving Europe to take advantage of booming U.S. production of natural gas from shale rock formations, Fatih Birol, chief economist for the International Energy Agency, a Paris-based adviser to 29 nations, said at a conference in London today.

14 July 2014, abc

Fatih Birol, chief economist of the International Energy Agency, said: "The issue is to convince the world that the future is as important as the present. Paris 2015 may well be our last hope." Despite the global agreement to stay below 2°C, the world is on a path that, without action, will lead to an increase of 4°C or more. The Intergovernmental Panel on Climate Change said in its Fifth Assessment Report, known as AR5, that such a rise might exceed the world's ability to adapt.

8 July 2014, Al Jazeera

While more optimistic than recent grim reports from the U.N.’s Intergovernmental Panel on Climate Change, which foresee a planet and human civilization mutilated by climate change, the scientists behind the DDPP stressed the urgency of action. “The issue is to convince the world that the future is as important as the present. Paris 2015 may well be our last hope,” said Fatih Birol, the International Energy Agency’s top economist.

2 July 2014, Business Standard

With its large population, low per capita income and energy consumption, future economic growth and limited domestic resources, India will be a central player in global energy over the next few decades. A new special report by the Paris-based International Energy Agency (IEA) on the prospects and issues in global energy investment till 2035 accordingly provides compelling reading for those interested in the energy choices facing India, and the country’s place in the global energy landscape.

1 July 2014, All Africa

The trio of Fatih Birol, Rabia Ferroukhi, and Aleagha, in their paper titled, "The Economic Impact of Subsidy Phase Out in Oil Exporting Developing Countries: A Case Study of Algeria, Iran, and Nigeria," maintained that subsidy, irrespective of whether it is given to the consumer (at the pump) or to the producer (refineries) adversely affects the economy.

1 July 2014, Seeking Alpha

While prices are expected to stabilize in the short term, all indications show that they may increase in the long term, making it painfully difficult for oil marketers without sufficient scale to make sizable profits. According to a new special report by the International Energy Agency (IEA) dubbed "World Energy Investment Outlook", global oil prices at their current range of between $90 and $110, despite being seemingly high, are still too low to sufficiently sustain producers' costs of tackling ever-more challenging geology.