The IEA has proposed a plan to reduce global oil purchases
Analysts at the International Energy Agency (IEA) have developed an aggressive strategy to reduce the purchase of fossil fuels. The new plan consists of ten points and includes stricter speed limits for cars, abandoning cars on weekends and partially switching to remote work.
IEA experts believe that meeting these goals will reduce global demand by 2.7 million barrels of oil per day over the next four months. The modern oil market is in an “emergency situation” and the situation may worsen in the next few months, the IEA notes.
The agency has urgently developed a program that minimizes market volatility and will have a positive impact on the environment. Moreover, the IEA proposes to maintain the new standards even after the work of the oil industry normalizes.
Reducing the use of oil should not remain a temporary measure. The proposed measures are desirable not only to improve energy security, but also to address the problem of climate change and reduce air pollution, – the agency’s report says.
Learn more about restriction measures
In its proposals to reduce oil purchases, the IEA relies on strict regulation of the transport sector.
- The company offers to reduce the speed limit for gasoline cars by 10 km/h in all regions, as well as change to public transport and bicycles once a week.
- According to another point, “distance” can help in the fight against fossil fuels – switching to work from home for at least three days a week will significantly reduce the burden on public transport and reduce gasoline consumption in large cities.
- Travel between cities should also become “greener”, the IEA said. This means that tourists should completely abandon air travel, and those who fly on business trips should make them rare.
- The agency suggests paying attention to electric trains and especially Night Flights.
- In addition, commercial companies should reduce their operations and transfer some of their activities to electric machines.
Important! The United States and the United Kingdom, Canada and Australia have already abandoned Russian oil, but not the 27 EU countries.
The IEA also added that the governments of Europe and the United States already have all the necessary tools to implement the proposed strategy. At the same time, experts recognized that consumers may react negatively to some measures, so countries that support the decarbonization of the economy should inform their citizens accordingly and explain to them the significance of the new standards.
