BBC: World facing 'first truly global energy crisis', report says
Russia's invasion of Ukraine will have long-lasting effects on energy supply and markets, a new report suggests.
The International Energy Agency (IEA) said the world faces its first "truly global energy crisis" as a result.
It added that unaffordable energy bills remain a huge problem, driven up as the exports of oil and gas have been restricted.
But the crisis should also be seen as a turning point, speeding up the world's transition to green energy, it said.
"With unrelenting geopolitical and economic concerns, energy markets remain extremely vulnerable, and the crisis is a reminder of the fragility and unsustainability of the current global energy system.
"The heaviest burden is falling on poorer households where a larger share of income is spent on energy", the report warned.
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WNU Editor: The IEA report is here .... World Energy Outlook 2022.
IEA Chief Says The World Is In Its ‘First Truly Global Energy Crisis’
World is in its ‘first truly global energy crisis,’ says IEA chief -- CNN
World is experiencing ‘first truly global energy crisis,’ IEA director says -- Washington Examiner
The world is in the middle of the 'first truly global energy crisis' and needs Russian oil to flow into the market, IEA chief says -- Business Insider
Not quite global. The cost of hydrocarbons is as low as ever in Russia and China and looking set to stay that way once this current period of oversupply ends.
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