IEA chief warns energy is becoming a geopolitical weapon
IEA chief Fatih Birol warns energy is becoming a geopolitical weapon, telling Al Jazeera that Europe risks higher gas prices this winter and criticising governments for failing to diversify supplies.
The head of the International Energy Agency has warned that energy is becoming a geopolitical weapon, urging governments to act before the coming winter.
Dr. Fatih Birol, the IEA's executive director, told Al Jazeera that Europe risks higher gas prices this winter as energy supplies become entangled in geopolitical rivalries.
Birol criticised governments for failing to diversify their energy supplies, leaving consumers exposed to price shocks when supplies are disrupted or used as leverage.
The warning comes as energy markets face mounting pressure. Oil prices have been climbing since February amid fallout from the US-Israel war on Iran, with Brent crude jumping 4 percent on Thursday alone, while the Strait of Hormuz -- a vital artery for global oil shipments -- remains a flashpoint.
The IEA, the world's leading energy watchdog, has repeatedly cautioned that underinvestment in diverse supply sources leaves economies vulnerable. Birol's comments underscore how energy security has moved to the centre of geopolitical strategy, with producers and transit states able to wield supplies as instruments of pressure.
His message to governments was blunt: diversify now, or risk paying the price when winter demand peaks.
Source: Al Jazeera English — TrendWire reports stories in its own words; facts should be confirmed against the original source.