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World Energy Outlook

27 November 2014, Manila Standard Today

Rapid carbon cuts are the only way to stop severe impact of climate change. All adaptation strategies in the world cannot prevent global warming. Rajendra Pachauri, IPCC chairman, believes that we have only very limited time, perhaps a few decades, to transition to a low-carbon growth path. Lima is therefore a pivotal turning point: If there is no successful negotiations in Lima, there will be no agreement in Paris next year. This means that “the door to [holding temperatures to 2°C of warming] will be closed forever,” in the vivid phrase of Fatih Birol, chief economist at the International Energy Agency.

26 November 2014, Financial Times

Fatih Birol, chief economist of the Paris-based International Energy Agency, said the rise of the Islamic State of Iraq and the Levant, or Isis, was causing the agency to reassess its expectations of crude supplies because the Islamist group was deterring investment in production. Speaking to the Financial Times in New York, Mr Birol said instability in the Middle East, and especially in Iraq, had “major implications” for oil markets.“Suddenly a new parameter has come into the oil markets,” he said. “In the past we talked about prices, supply, demand and economic growth. Now there is a new parameter: Isis.”

25 November 2014, China Daily USA

Fatih Birol, chief economist at the IEA, said on Monday that half of the 80 GW of nuclear power capacity now under construction in the world is located in China. According to the IEA, about 45 percent of the growth in nuclear generation by 2040 will come from China, while 30 percent will come from India, South Korea and Russia. In a Monday talk on the IEA's report World Energy Outlook 2014, Birol praised the recent climate agreement reached by Chinese President Xi Jinping and US President Barack Obama. He said China's nuclear energy plan will be important in reducing the share of coal in its energy mix, as well as in reducing emissions of carbon dioxide.

25 November 2014, Washington Times

Falling global oil prices may be good for consumers, but pose new challenges for America’s producers, according to a new global energy survey issued this week by the International Energy Agency.

24 November 2014, Breaking News Trinidad and Tobago

The IEA Chief Economist, Dr. Fatih Birol, warned that current supply/demand dynamics in the global oil market run the risk of instilling a dangerous level of complacency around future oil supply that could lead to a sharp and unexpected tightening in the future oil balance. In particular, Dr. Birol pointed to current strong growth in US tight oil as only a “temporary” phenomenon and that the Middle East will become even more important for global oil supply growth in the long term.

21 November 2014, USA Today

It's not just prices that are a problem, either — but supply. While there are some new pipeline projects set for the EU, most are designed to push energy to only certain countries in the region. And with few other solutions on the horizon, some experts worry the EU will be hit by a major energy shortage in the future. "We are, in Europe, facing the risks of the lights going out soon," Fatih Birol, the International Energy Agency's chief economist, said recently.

21 November 2014, Hurriyet Daily News

Fatih Birol’s assessment of 2020 energy forecasts was even more surprising. The Chief Economist of International Energy Agency predicted that the calm in the oil markets will not stay forever. He also stressed the need for urgent and significant investment in the Middle East now in order to supply the 2020 demands. Birol says China will eventually leave dirty coal and its economy has already shown signs of slowing down.

20 November 2014, National Geographic

The International Energy Agency (IEA) has released its World Energy Outlook (WEO) 2014report, which for the first time provides energy trend projections through the year 2040. Among the key challenges in the next two and a half decades is, a 37 percent rise in global energy demand, driven mainly by emerging markets in Asia, Africa, the Middle East and Latin America. Asia will account for 60 percent of global growth in demand, and by early 2030s, China may surpass the U.S. as the world’s largest oil consumer.

20 November 2014, Handelsblatt

In spite of rising greenhouse gas emissions, the International Energy Agency (IEA) sees signs of hope for a global climate treaty . “The agreement between Barack Obama and Xi Jinping is cause for optimism”, said IEA chief economist Fatih Birol, presenting the latest World Energy Outlook on Wednesday in Berlin . According to the report, the rapid increase in climate-damaging coal consumption in China is set to come to a standstill from 2020 but more needs to be done. The World Climate Conference in 2015 in Paris must bring the crucial signal for a shift in investments in energy supply. "We are on a dangerous path ," Birol said, "and Paris is our last chance."

19 November 2014, Turkish Weekly

China will lead growth in the nuclear energy sector in the future followed by India and the U.S., Fatih Birol, Chief Economist at International Energy Agency said Tuesday. Birol made the remarks at the World Energy Outlook Conference in Copenhagen.