IEA boss warns of global energy crisis

[cal04]

The head of the International Energy Agency (IEA) says Hurricane Katrina could spark a worldwide energy crisis if damage to US refineries leads to a big increase in US purchases of European petrol.

"If the crisis affects oil products then it's a worldwide crisis. No one should think this will be limited to the United States," Claude Mandil, head of the Paris-based energy watchdog told German daily Die Welt. "They are already buying gasoline in Europe. If the refineries are damaged, that will only increase. Then this will become a worldwide crisis very quickly."

Mr Mandil told the paper that high oil prices represented a risk for global economic growth and urged consumers to alter their behaviour to save more energy and limit the fallout. Poor countries were bound to suffer most from a recent surge in energy prices, which has been aggravated by the hurricane's devastation of the US Gulf states, and the shortages it has caused, he said.

On Friday, the IEA launched a rescue plan to ease those shortages, saying its 26 members would release two million barrels per day of oil over a 30-day period.
US gasoline prices have spiked by nearly a fifth over the past week, pushing up fuel prices around the world.

http://www.abc.net.au/news/newsitems/200509/s1452621.htm

[Mr Rabble]

1. Following the Oil Storm script it seems.

Famine anyone?

[Katidid]

4. I wish they would re-run "Oil Storm" - I thought it was very good ..

When I told my friends about the TV Movie, some said 'it's fiction, never happen here in the US'

Geee .... :think:

[mom cat]

2. Why is the govt not rationing! Do they want a total colapse so they can

have their full spectrum domination?

[jpak]

3. Or at least odd/even day gasoline purchases

That would cut down on panic buying.

The real crunch will come this winter when demand for heating oil cranks up...

[mom cat]

5. Thank God for Hugo Chavez. If we squeek through, we will have him to

thank!