Europe has ‘maybe 6 weeks of jet fuel left,’ energy agency head tells AP
The head of the International Energy Agency warns Europe has about six weeks of jet fuel left.
The head of the International Energy Agency warns Europe has about six weeks of jet fuel left. In an interview Thursday, Fatih Birol expressed concerns about possible flight cancellations if oil supplies remain blocked by the Iran war. He described the situation as the largest energy crisis ever faced, with significant global repercussions. The Strait of Hormuz closure affects oil, gas, and other vital supplies. Birol predicts higher gasoline, natural gas, and electricity prices worldwide. Asian countries like Japan, Korea, and India are on the front line, with Europe and the Americas affected next.
PARIS (AP) – Europe has “maybe 6 weeks or so (of) jet fuel left,” the head of the International Energy Agency said Thursday in a wide-ranging Associated Press interview, warning of possible flight cancellations “soon” if oil supplies remain blocked by the Iran war.
IEA Executive Director Fatih Birol painted a sobering picture of the global repercussions of what he called “the largest energy crisis we have ever faced,” stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz.
“In the past there was a group called ‘Dire Straits.’ It’s a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world,” he said.
The impact will be “higher petrol (gasoline) prices, higher gas prices, high electricity prices,” Birol told AP, with some parts of the world “hit worse than the others.” “The front line is the Asian countries” that rely on energy from the Middle East, he said, naming Japan, Korea, India, China, Pakistan and Bangladesh.
“Then it will come to Europe and the Americas,” he added, speaking from his Paris office looking out over the Eiffel Tower.
If the Strait of Hormuz isn’t reopened, he said that for Europe, “I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel.”
AP
