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  4. IEA warns against energy crisis deepening fossil fuel reliance
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IEA warns against energy crisis deepening fossil fuel reliance

DAVOS, Switzerland (Reuters) - The energy security crisis since Russia's invasion of Ukraine must not lead to a deeper dependence on fossil fuels, International Energy (IEA) chief...
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IEA warns against energy crisis deepening fossil fuel reliance © Reuters. FILE PHOTO: Fatih Birol, Executive Director of the International Energy Agency, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 19, 2017. REUTERS/Ruben Sprich

DAVOS, Switzerland (Reuters) - The energy security crisis since Russia's invasion of Ukraine must not lead to a deeper dependence on fossil fuels, International Energy (IEA) chief Fatih Birol said on Monday.

The right investments, especially in renewable energy and nuclear power, mean the world need not choose between energy shortages and accelerated climate change due to fossil fuel emissions, Birol said at the World Economic Forum (WEF).

"We need fossil fuels in the short term, but let's not lock in our future by using the current situation as an excuse to justify some of the investments being done, time-wise it doesn't work and morally in my view it doesn't work as well," Birol told delegates in Davos, Switzerland.

The Paris-based IEA, a top energy watchdog, warned investors last year not to fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century.

Short-term demand meant the world could not immediately wean itself off traditional energy supplies, Birol said, adding that he hoped producer countries with capacity to export more energy would make a "positive contribution".

The OPEC+ alliance of oil exporters has been incrementally releasing oil into markets, with top producers Saudi Arabia and the United Arab Emirates holding off on tapping full capacity.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

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Moving Avg:

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Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

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Moving Avg:

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

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Brent Oil Futures

85.62

-0.71 (-0.82%)

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Natural Gas Futures

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

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FTSE 100

8,144.13

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17,763.03

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US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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49.155

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27.35

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266.60

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Adidas AG

226.40

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175.90

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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EUR26.475,3627.949,19
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Cập nhật lúc 10:45:15 01/05/2024
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