Outlook 2024: The IEA 50 years on – Ensuring a secure transition to clean energy
We have the tools to transition but we must make sure we take advantage of them
History doesn’t always repeat itself, but it often rhymes. Half a century has passed since the 1973 oil crisis began, but today’s global energy landscape is echoing with familiar concerns. Energy security concerns are looming large for world leaders in a system that is still largely dominated by fossil fuels and especially oil. But unlike in the early 1970s, the world now has many other proven energy technologies at its disposal, such as renewables, electric vehicles and heat pumps, which are already driving rapid changes. Born out of the 1973 crisis, the IEA was initially dedicated to oil. By establishing emergency stocks, sharing data and coordinating policies among its member countries, t
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The March 2026 issue of Petroleum Economist is out now!
