Posted on 03/18/2022 7:50:28 AM PDT by Oldeconomybuyer
Paris (AFP) – The International Energy Agency on Friday urged governments to urgently implement measures to cut global oil consumption within months following supply fears stemming from Russia's invasion of Ukraine.
The IEA also called on the OPEC+ group of oil-producing nations led by Saudi Arabia and Russia to help "relieve the strain" on markets, while warning that the world faced the biggest shock to supply "in decades".
With the threat that supplies of Russian oil could be cut even more, "there is a real risk that markets tighten further and oil prices escalate significantly in the coming months" as the world enters its peak demand season, the IEA said.
"As a result of Russia's appalling aggression against Ukraine, the world may well be facing its biggest oil supply shock in decades, with huge implications for our economies and societies," IEA Executive Director Fatih Birol said in a statement.
Increases in supply of the crucial commodity "would not be able to ease the current strains" after the "disappointing outcome" of a recent monthly meeting of OPEC+, the IEA report concluded.
The OPEC+ group has resisted US pressure to step up production for months, agreeing only to modest increases in output at its regular meetings, even after Russia invaded Ukraine.
The 10 proposals put forward by the IEA could cut oil consumption among advanced economies "by 2.7 million barrels a day within the next four months", it said.
The proposals, principally targeted at transport, included reducing speed limits, working from home three days a week, car-free Sundays, cheaper public transport and greater use of long-distance trains over planes.
(Excerpt) Read more at france24.com ...
F*** these a*******.
Sounds like a perfect opportunity for a Covid flare up to stop everybody returning to work at the offices again in order to save gas?
Boy, these jerks lie like a rug.
Why not ask Biden to help “relieve the strain” on markets, he started it all
So how are they going to heat their homes in Europe in winter if Russia cuts off their gas supplies?
No gas used in closed offices means even more gas used to heat homes if you are home all day.
The beginning of a never ending cycle.
Put on a sweater and eat your bugs peasants.
Sorry, wrong post.
Too bad Brandon is shutting down our domestic energy production, otherwise it would be a simple solution to just produce more here.
Exactly. Russia isn’t the cause- gas prices soared under Biden even before the war. Biden is to blame, not the war
Wood works well, but it does take a toll on the environment. Maybe offer carbon credits to offset ?
Get your ration cards now, before the rush.
You are going to heat your house with wood in freezing winter?
Back to the stone age are we?
Where will all that wood come from?
They can pilfer from local township buildings and other government forested areas, after all, it’s the peoples property. I just hope people don’t start hoarding and stuff. That would be sad.
Russian Prime Minister Lavrov and UAE* counterpart met yesterday to discuss Energy Security.
https://gulfnews.com/uae/government/sheikh-abdullah-bin-zayed-al-nahyan-meets-sergey-lavrov-minister-of-foreign-affairs-of-the-russian-federation-1.1647544920665
(UAE abstained UN Security Council condemning Russian invasion of Ukraine)
And when there is a famine people just eat less to conserve supplies.
In anticipation of a these yahoos… purchased a slightly used Lincoln MKZ hybrid that gets 40 mpg. Ride to the end of the world in comfort. As one approaches the vehicle the lights come on and the Lincoln emblem is splashed on the ground in front of the driver’s and passenger’s door. Ahhhhh.
In big cities like London, Paris and Berlin?
Nonsense!
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