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Recovering U.S. economy triggers IEA oil demand forecast

Global oil demand will rise faster than previously expected this year, the IEA forecast on Tuesday, reporting that consumption accelerated at the end of 2013 as advanced economies led by the United States recovered. But growth of Chinese demand slowed down in the second half of 2013, the International Energy…

UN climate chief: Coal power has ‘an unacceptably high cost to human and environmental health’

The United Nations’ climate chief urged the coal industry on Monday to make dramatic changes to reduce its greenhouse gas emissions amid protests at a coal summit held on the sidelines of global climate talks. As environmental activists clamoured outside the meeting venue, the UN’s Christiana Figueres told the summit…

International Energy Agency warns of catastrophic greenhouse gas increases

The world cannot afford to wait for a new global climate change agreement to come into force in 2020, because doing so will mean an end to hopes of limiting global warming to moderate levels, one of the world’s foremost authorities on energy has warned. Carbon dioxide emissions from energy…

Coal to keep burning because of strong Asian demand

Coal is set to remain a major energy source alongside oil over the next 25 years on strong Asian demand, an uncertain outlook for nuclear power and despite the popularity of natural gas. “Coal will be very competitive for a long time,” Richard Jones, deputy executive director of the International…

Global oil demand to rise 14% by 2035: IEA

Global oil demand is set to grow by 14.0 percent by 2035, pulled byChina and emerging economies and the price could reach 120 dollars per barrel, the IEA said in its annual report on Wednesday. “Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon…

Libya oil exports not to return to normal until 2013

PARIS — Libyan oil exports are unlikely to return to their pre-war level before 2013, the new head of the International Energy Agency said on Thursday. “Our experts think that 2013 or beyond will most probably show the complete full restoration of the Libyan supply to the market, but not…

Asia moves to open its oil reserves

TOKYO (Reuters) – Asian nations moved to release emergency oil stockpiles on Friday as part of a rare global coordinated action by consumer countries to prevent high energy prices from stunting a stuttering economic recovery. The move, led by Washington and criticized by the oil industry as an unnecessary distortion…

Energy agency warns of danger from high oil prices

PARIS – The global recovery will drive oil prices dangerously higher this year, possibly to the level where they could push the economy into a marked slowdown, the IEA warned Thursday. The prospect of rising inflation, driven by oil and other higher commodity prices, coupled with political instability in the…

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