BIKE: Global warning

[Roger Baker]

<http://www.itar-tass.com/eng/level2.html?NewsID=1891012&PageNum=0>

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IEA warns against possible acute oil shortage

01.04.2005, 11.51

PARIS, April 1 (Itar-Tass) -- The International Energy Agency (IEA) has 
come to the conclusion that the world economy is facing a serious 
threat of acute oil shortage. IEA experts have prepared a special 
report, due to be published within a few weeks, in which they warn the 
key oil consuming countries about the need for immediately taking tough 
energy-saving measures, if the daily oil supply to the world market is 
reduced by one to two million barrels.

  The measures, suggested by IEA, include the reduction of a working 
week, a ban on using privately owned vehicles, the introduction of a 
90-kilometre speed limit, the reduction of public transport fare and 
the encouragement of staff members to work at home, using Internet.

  The conclusions drawn by the IEA experts reflect their growing concern 
over the macroeconomic dynamics taking shape on the world oil market. 
According to the information of Itar-Tass, the latest studies show that 
oil shortage will become more and more acute within the coming few 
months.

  As a result of it, IEA insists now on the changing of one of its basic 
principles. Its founding documents say that tough energy-saving 
measures should be taken by oil consuming countries, if oil deliveries 
to the world market are reduced by 7 per cent, which is now equal to 
six million barrels a day. IEA is going to reduce the amount to one or 
two million barrels.

  The report, prepared by IEA, will be submitted for discussion at a 
meeting of ministers of energy of the IEA member countries, which will 
be held next month.
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