The U.S. will surpass Russia and Saudi Arabia as the world’s top oil producer by 2015, and be close to energy self-sufficiency in the next two decades, amid booming output from shale formations, the IEA said.
Japan and the European Union may lose a third of their combined export market share of energy- intensive goods partly because of their high natural gas, coal and electricity costs, the International Energy Agency said.
Slowing the expansion of nuclear power will harm efforts to fight climate change, push up energy prices and set back goals to secure power supplies, said Fatih Birol , chief economist at the International Energy Agency.
The International Energy Agency hopes that the Organization of Petroleum Exporting Countries will make a “responsible decision” on oil production at its meeting in Vienna next week, Chief Economist Fatih Birol said.
Fatih Birol, the International Energy Agency’s chief economist, comments on price of oil. He spoke in an interview today in the Chinese city of Dalian, where he’s attending the World Economic Forum’s Annual Meeting of the New Champions.