‘Work from home,’ encourages the world’s energy watchdog

The IEA is recommending measures to alleviate impending fuel shortages amid the war in Iran.

Here are all of the “immediate actions” being recommended by the IEA:
These actions primarily focus on reducing road transport, which the IEA reports accounts for around 45 percent of global oil demand.

Gas prices surged in the US after the Trump administration and Israel launched strikes against Iran on February 28th, and the impact of prolonged military engagement is expected to make energy markets “more and more severe,” according to IEA executive director Fatih Birol.

“We have recently launched the largest ever release of IEA emergency oil stocks – and I am in close contact with key governments around the world, including major energy producers and consumers, as part of our international energy diplomacy,” Birol said in a statement.

“However, supply-side measures alone cannot fully offset the scale of the disruption.

Addressing demand is a critical and immediate tool to reduce pressure consumers by improving affordability and supporting energy security.”
The measures being pushed by the IEA are voluntary, so it’s up to global governments and companies to decide whether to heed such advice.

Some countries have already implemented measures to reduce oil demand, but so far, not many of us have been ordered to return to working from our couches and kitchen counters.

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