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Pessimistic Fuel Report Too Bright The latest report issued by the International Energy Agency on the global balance between supply and demand for energy is by far and away that agency's most pessimistic. According to the IEA, "vigorous, immediate and collective policy action by all governments" is needed to prevent both a rise in oil prices, perhaps to $150 a barrel by 2030, and a 50 per cent rise in greenhouse gas emissions by around the same date. The report's principal author, IEA principal economist Fatih Birol, calls it "the most pessimistic overview of the world we have ever portrayed."

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Pessimistic Fuel Report Too Bright

The latest report issued by the International Energy Agency on the global balance between supply and demand for energy is by far and away that agency's most pessimistic.

According to the IEA, "vigorous, immediate and collective policy action by all governments" is needed to prevent both a rise in oil prices, perhaps to $150 a barrel by 2030, and a 50 per cent rise in greenhouse gas emissions by around the same date.

The report's principal author, IEA principal economist Fatih Birol, calls it "the most pessimistic overview of the world we have ever portrayed."