It is not correct to blame renewables for high energy prices, according to IEA

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It is not correct to blame the high energy prices on energy transition and renewable energy policies.

This is the suggestion of Fatih Birol, Executive Director of the International Energy Agency (IEA) who said: “It is not correct to attribute the responsibility for high energy prices to energy policies. clean energy. Because we often see that there are many who suggest that high energy prices are the result of clean energy policies. We believe that is incorrect and that it is not fair.

Mr Birol said that this high price volatility may be due to the fact that countries around the world have not put in place as many clean energy policies.

Hosting a live press conference, the IEA chief discussed the factors that have caused high prices in the energy market. He said: “One factor that I would like to highlight that has caused these high prices is the position of some of the major suppliers of oil and gas and some countries have not, in our opinion, taken a useful position in this context.

“In fact, some of the main strains in today’s markets can be seen as artificial strains … because in oil markets today, nearly six million barrels per day of unused production capacity falls on the major producers, the countries of the world. OPEC +. “

Fatih Birol added that the supply of oil and gas was insufficient for consumers.

On Tuesday, it was announced that the United States would release 50 million barrels of oil from the country’s strategic oil reserve to bring down gas prices.

This decision was followed by the United Kingdom which pledged to release 1.5 million barrels of its reserves.

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