Page 32 - Iea News Today

The head of the International Energy Agency has said that demand for oil, natural gas, and coal will soon peak, even without new climate policies.

The "spectacular" expansion of cleaner energy technologies and electric vehicles is expected to cause the demand for oil, gas and coal to peak this decade for the first time ever, according to the head of the International Energy Agency.

Brent crude futures holds above US$90 as investors await macroeconomic data that could indicate whether interest rates will rise further in the United States and Europe and the repercussions that would have for oil demand.

Brent crude fell by 23 cents to $90.42 a barrel by 1051 GMT, while U.S. West Texas Intermediate crude lost 46 cents to $87.05

One lane on Moanalua Road in Aiea is closed while crews fix an 8-inch water main that broke Thursday afternoon.

Kenya is ranked third in Africa after Angola which has since outpaced Algeria which ranked second.

India is one of the fastest-growing electric vehicle markets in the world and now has millions of EV owners. More than 90% of its 2.3 million electric vehicles are the cheaper and more popular two- or three-wheelers - thats motorbikes, scooters and rickshaws - and over half of Indias three-wheeler registrations in 2022 were electric, according to an IEA report released in April.

British energy major BP chief executive Bernard Looney on Saturday echoed Indias views on energy transition being just and orderly, saying the shift from fossil-based system of energy to renewable sources has to be done in a manner so as to avoid price shocks like the ones witnessed last year. Looney said oil and gas will continue to be a source of energy for the world for "many, many decades to come"

Top Tories say Chancellor Jeremy Hunt now has significant headroom to cut taxes and boost the ailing economy.

Coverage of the energy transition makes it sound like progress is rapid, but the data tell a different story.