06.01.15 Gloomy energy security outlook

Posted on January 6, 2015
Archive : January 2015
Category : Energy News

The International Energy Agency (IEA) has produced its annual global energy trends report and it makes for gloomy reading regarding the future of EU energy security. Whilst we are currently enjoying cheaper petrol, the free-falling oil price could just as quickly change due to political uncertainty in the Middle East and cash-strapped oil majors simply shying away from investing in something that's worth almost half of what it was this time last year. The five-year low oil prices have also severely dented US shale gas competitiveness making its exploration barely profitable. Add in Europe's continuing love affair with Russian gas, a neighbourhood bear with an extremely sore head as well as a ravenous Chinese economy and it just doesn't bear thinking about... but somebody has to.

Source: Utility Week

To read Utility Week's complete IEA report overview please click here