The global energy crisis may get worse, says IEA

The head of the international energy agency says the shortages and reason for a surging price in petrol and power are due to the shortages in energy supply, which may even get worse. 

The world has never witnessed such an energy crisis in terms of its depth and its complexity, IEA executive director faith brawl said at a global energy forum in  Sydney. Might not have seen the way of it yet this is affecting the entire world.

The Russian invasion of Ukraine triggered the whole energy system around the world as Russia at that time was the biggest oil and natural gas exporter and then a major player in commodities. Rising prices are increasing the cost of filling gas tanks and making it unaffordable for people across the world and powering industries across the globe in addition to the inflation pressures and leading to deadly protests from Africa to Sri Lanka. The economy can be reverted by faster adoption of government policies like the oil crisis of the 1970s which gained hugely in fuel efficiency and nuclear power, Birol said. Meantime the only challenge for Europe is the security of oil and Gas supplies and also the regions. This winter in Europe will be there very very difficult because the global energy crisis is a major concern and it has a serious impact on the global economy says Birol. Seeking alternatives to Russian exports has highlighted the need to reduce dependence on fossil fuels as a fallout of the global energy sector as the US and its Allies challenge President Vladimir Putin over the war in Ukraine. I want to clean energy globally could be the greatest peace plan of all we want and need to move to clean, says US energy secretary.

To shift to clean power, Nations must switch Reliance on one dominant energy supplier.