Fuel shortages, blackouts: the alarming predictions of an International Energy Agency executive

In an article published this Tuesday, May 31, by the German newspaper Der Spiegel, the Executive Director of the International Energy Agency (IEA), Fatih Birol, expresses his fears of a triple energy crisis that would hit Europe particularly hard. It could be bigger than the 1970 oil shock.

His statements are scary. According to a Spiegel survey, Fatih Birol, one of the board members of the International Energy Agency (IEA), assumes that the energy crisis will worsen in the coming months. According to Slate’s interpretations, she could be “harder” than the oil shocks of the 1970s. This will lead to a continuation of the price increase, but not only.

The Executive Director of the AEI is formal: DST will cause fuel supply difficulties. “When the long holiday season begins in Europe and the United States, demand for oil will increase. So we Bottlenecks in diesel, petrol or kerosene, for example, could arise in Europe in particular.”

Disputed Claims

A forecast tempered by Jean-Pierre Favennec, a commodities specialist, in an interview with BFMTV. “Every oil operator must have three months of storage. The actual usable memory is slightly lower. But let’s put it this wayWe easily have a month and a half or two months ahead of us“, he believes.

Nor, in his opinion, is it the European embargo on Moscow-expelled oil that should get Europe into untold trouble. The supply should simply be reorganized. “Presumably the Russians will sell more oil in China and India. The Indians and Chinese, for example, will need a little less oil in the Middle East or in Africa. And so oil will become available to Europeans,” predicts Jean-Pierre Favennec.

Fear of power outages?

When the question of the risk of fuel shortages in Europe is discussed, Fatih Birol believes that the current crisis could have an impact “Oil, gas and electricity at the same time”. An analysis mirroring an article published by Vice in late May, highlighting “a report” indicating “that most of the US power grid threatened to fail this summer”.

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