You are using an outdated browser. Please upgrade your browser or activate Google Chrome Frame to improve your experience.

For full functionality of this site it is necessary to enable JavaScript. Here are the instructions how to enable JavaScript in your web browser.

Energy Outlook 2013

For decades Europe will be the loser

Fatih Birol on sending the wrong signals to Riad

For decades Europe will be the loser For decades Europe will be the loser
Collage: Energlobe

In the new World Energy Outlook 2013, which he recently introduced in Berlin, IEA chief economist Fatih Birol highlights two fundamental consequences of the current shifts in global energy markets. First, European industry is, and over the next twenty years will remain, the clear loser in competition with its global rivals, being projected to lose 10 percent of its share in the global market. Second, Middle Eastern oil is far from obsolete or out of fashion; on the contrary, demand for it will skyrocket within the next two decades. ENERGLOBE asked Fatih Birol which options are still realistically open to Europe and why he emphasizes the importance of not sending the wrong signals to the Middle East.

»THE CRISIS IN THE CONCEPT OF THE

WORLD ORDER (IS) THE ULTIMATE

INTERNATIONAL PROBLEM OF OUR DAYS.«

Henry Kissinger,„World Order“, August 2014