International Energy Agency Forecasts Fossil Fuel Generated Energy to Peak This Decade
MOSCOW (Sputnik) - The International Energy Agency is a Paris-based separate intergovernmental organization, established in 1974, which develops policy recommendations and provides analytic material and statistics on the global energy sector.
The world will witness the peak of fossil fuel energy generation this decade with the existing policies in place, Executive Director of the International Energy Agency Fatih Birol said on Tuesday.
"We are going to see after tens of years the fossil fuel consumption this decade will peak, coal, oil and natural gas again with the current policies in place without any additional policies," Birol said, when presenting the World Energy Outlook 2023 report.
He also said that oil and gas consumption would increase in developing countries, while the opposite trend would be observed in advanced economies.