[Peakoil] IEA warns against possible acute oil shortage

[Alex P]

I wonder what the Government spokesperson at the forum tonight will say 
about this?


http://www.tass.ru/eng/level2.html?NewsID=1891010&PageNum=0

IEA warns against possible acute oil shortage

 <>01.04.2005, 11.51 <>

PARIS, April 1 (Itar-Tass) -- The International Energy Agency (IEA) has 
come to the conclusion that the world economy is facing a serious threat 
of acute oil shortage. IEA experts have prepared a special report, due 
to be published within a few weeks, in which they warn the key oil 
consuming countries about the need for immediately taking tough 
energy-saving measures, if the daily oil supply to the world market is 
reduced by one to two million barrels.

The measures, suggested by IEA, include the reduction of a working week, 
a ban on using privately owned vehicles, the introduction of a 
90-kilometre speed limit, the reduction of public transport fare and the 
encouragement of staff members to work at home, using Internet.

The conclusions drawn by the IEA experts reflect their growing concern 
over the macroeconomic dynamics taking shape on the world oil market. 
According to the information of Itar-Tass, the latest studies show that 
oil shortage will become more and more acute within the coming few months.

As a result of it, IEA insists now on the changing of one of its basic 
principles. Its founding documents say that tough energy-saving measures 
should be taken by oil consuming countries, if oil deliveries to the 
world market are reduced by 7 per cent, which is now equal to six 
million barrels a day. IEA is going to reduce the amount to one or two 
million barrels.

The report, prepared by IEA, will be submitted for discussion at a 
meeting of ministers of energy of the IEA member countries, which will 
be held next month.



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