IEA Executive Director: The global energy crisis explained | Podcast | In Good Company

The podcast explores the escalating global energy security crisis, which is considered the greatest in history. Dr. Fatih Birol from the International Energy Agency warns that markets and politicians underestimate the crisis's consequences, noting current disruptions exceed the combined impact of the 1970s oil crises and the Russia-Ukraine gas crisis. Key discussion points include the vulnerability of global energy systems, particularly the Strait of Hormuz, and the potential for energy rationing in developing countries due to inflated prices. Dr. Birol suggests targeted, temporary subsidies for vulnerable populations and urges European governments to avoid easing restrictions on Russian gas. The conversation also covers the long-term reshaping of energy markets, with a focus on nuclear power, electrification of transportation, renewables, and potential increased coal use.