FRANKFURT, Germany — Tensions from the war in Gaza might aid speedup the relocation away from planet-warming fossil fuels like oil and gas and towards eco-friendly energy, electrical vehicles and heat pumps — comparable to how sharp increases in the rate of oil throughout the 1970s letloose efforts to save sustain, the head of the International Energy Agency stated.
“Today we are onceagain dealingwith a crisis in the Middle East that might assoonas onceagain shock oil markets,” stated IEA Executive Director Fatih Birol. That comes on top of the tension on energy markets from Russia’s cutoff of natural gas to Europe over its intrusion of Ukraine, he stated.
“Put these 2 things together, and no one can persuade me that oil and gas are safe and protected energy options for nations or customers,” Birol informed The Associated Press in an interview ahead of the publication Tuesday of the IEA’s yearly world energy outlook, which examines the worldwide photo of energy supply and need.
“This might evenmore speedup the energy shift around the world,” with sustainable sources like wind or solar offering a “long longlasting option” to energy security problems as well as environment modification, he stated.
The attack on Israel by the militant company Hamas and the takingplace Israel military operations haveactually raised fears of a broader Mideast dispute. So far oil rate increases haveactually been reasonably moderate. International criteria Brent crude traded at $90.17 per barrel Tuesday, up from around $84 on the eve of the Hamas attack. So far