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International Energy Agency
Latest International Energy Agency Items
The International Energy Agency (IEA) made a mistake. Formed in 1974 at the behest of Secretary of State Henry Kissinger and headquartered in Paris, the IEA was designed to be the organization for energy-consuming countries, countering OPEC, the organization representing the producers.
Despite the recent buzz over renewable fuel sources such as wind and solar power, fossil fuels will still be the globe's dominant energy source for decades to come, according to a major market survey released Tuesday.
The U.S. is not the only nation experiencing a renaissance in oil production. Sidelined for two decades by war, sanctions and political instability, Iraq passed a critical milestone last year by producing 3 million barrels a day of crude oil for the first time since 1990, before the Persian Gulf War, reaching 3.4 million barrels a day by December.
There is an energy revolution under way in the United States. Booming oil and natural gas production is transforming our economic outlook, ushering newfound wealth to our rural areas and providing high-paying jobs for middle-class workers across the country.
By about 2020, the United States will overtake Saudi Arabia as the world's largest oil producer and put North America as a whole on track to become a net exporter of oil as soon as 2030, according to a report from the International Energy Agency.
The chief economist for the International Energy Agency says the world is hurtling toward irreversible climate change unless governments cut fossil fuel subsidies and improve energy efficiency.
Stuck with a glacial pace of economic recovery and little likelihood that Congress will approve more stimulus, the White House has been resorting to some unconventional measures to try to boost growth.
The International Energy Agency, which includes the U.S. and 27 other countries, said Thursday it would release 60 million barrels of oil from emergency stocks in an effort to stave off a possible spike in energy prices that could strain the global economic recovery.
China is now king of the world in energy consumption, surpassing the U.S. years ahead of forecasts in a milestone that left the Asian giant immediately rejecting its new crown.