Oil Peak: War Is Driving
Photo: Michel Euler/AP/TT

Oil Peak: War Is Driving the World Towards Renewable Energy

The energy crisis that followed the Iran war is a turning point for the fossil fuel industry and is permanently steering the world towards renewable resources, Fatih Birol, head of the International Energy Agency (IEA), told The Guardian.

Birol is described by the newspaper as the world's leading energy economist. Fossil fuels such as oil and gas will simply be seen as riskier resources in the future, he believes.

"Governments around the world will review their energy strategies. Renewable energy sources and nuclear power will be greatly strengthened and we will swing even harder towards an electrified future," Birol says.

That shift will take market share away from oil and there is no turning back. The consequences for the global energy market "are permanent," he says.

"The damage is done."

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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