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Work from home, avoid air travel to deal with higher energy prices, IEA says
The International Energy Agency recommends demand-cutting measures including work from home and lower speeds to mitigate oil shortage risks after a 400 million-barrel release proved inadequate.
- On Friday, the International Energy Agency urged working from home, lower speeds and avoiding air travel to cut oil demand after warning a 400 million-barrel release 10 days earlier would not suffice.
- The U.S.-Israel war with Iran has pushed up energy prices, and the IEA warned the potential closure of the Strait of Hormuz threatens supplies, prompting emergency actions.
- Asking workers to stay home could reduce car oil consumption by up to 6 per cent, and cutting speed limits by 10km/h would lower petrol use by 5-10 per cent, with road transport about 45 per cent of global fuel demand.
- The Albanese government extended subsidies to Australia’s last two oil refineries, while Penny Wong and Madeleine King seek additional supplies amid import uncertainties from mid-April, following China's export halts earlier this month.
- The IEA's new report offers immediate demand-side measures, and Fatih Birol will speak at the National Press Club on Monday, said 'In addition to this, today's report provides a menu of immediate and concrete measures that can be taken on the demand side by governments, businesses and households to shelter consumers from the impacts of this crisis'.
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More teleworking, lower speed limits on highways, and alternatives to air travel: the International Energy Agency (IEA) has drawn up a series of recommendations as a "major energy crisis" emerges due to the war in the Middle East. "I believe this will be useful for governments worldwide, in both developed and developing countries, in these challenging times," says IEA Director Fatih Birol.
·Antwerp, Belgium
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Coverage Details
Total News Sources51
Leaning Left12Leaning Right11Center7Last UpdatedBias Distribution40% Left
Bias Distribution
- 40% of the sources lean Left
40% Left
L 40%
C 23%
R 37%
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