Fossil fuel consumption is expected to peak or plateau within this decade, accelerated by the policy and trade flow shifts following the Russian invasion of Ukraine, the International Energy Agency (IEA) said on Thursday.
Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday.
Of all of the optimistic futuristic dreams, a world of clean, renewable energy to combat climate change is perhaps the closest to realisation, thanks to the growing acceptance of and demand for renewable energy (RE).
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand.