Global energy intensity – a measure of how efficiently the global economy uses energy – improved by just over 2% in 2022. That needs to double to 4% annually to 2030 to meet global efficiency targets, explains Brian Motherway at the IEA. If achieved, by 2030 one unit of energy used will generate 40% more economic output than today. That’s huge, and shows why few other policy areas offer such widespread benefits. More than half of the 150 … [Read more...]
Oil & Gas can meet 2030 net-zero target for only $600bn, quickly recouped. But it’s still not happening, warns IEA
The IEA summarises its 33-page report “Emissions from Oil and Gas Operations in Net Zero Transitions”. The IEA says the oil and gas sector needs ÂŁ600bn up front to meet its 2030 target of a 60% reduction in emissions. That’s only 15% of the sector’s record 2022 energy-crisis windfall income. A small price increase and savings should recoup that money “quickly”, says the IEA. The IEA not only maps a way to limit the global average temperature rise … [Read more...]
