The International Energy Agency has drawn up a 10-proposal plan to cut oil consumption by about 2.7 million barrels a day. Many of these measures involve the active involvement of citizens.
The emerging global energy crisis triggered by the Russian invasion of Ukraine has led to the International Energy Agency (IEA) has drawn up a decalogue of actions to be implemented with the aim of considerably reducing the dependence on oil that the world currently has.
And it is that, according to this organization, “practical actions by governments and citizens of advanced economies and beyond can achieve significant reductions in oil demand in a matter of months, reducing the risk of a major supply crisis».
“We can take steps to avoid the risk of a crippling oil crisis”
According to the reportthese efforts would reduce the painful price shock felt by consumers around the worldThey would lessen the economic damage, reduce Russia’s hydrocarbon revenues and help move oil demand onto a more sustainable path.
In fact, the IEA states that, if its proposal were carried out, it would be possible to reduce the use of oil demand in 2.7 million barrels per day in four monthswhich is equivalent to the oil demand of all the cars in China.
“This would significantly reduce potential tensions at a time when a large amount of Russian supplies can no longer reach the market and the peak demand season of July and August is approaching”, reiterates the document published by this body. “The measures would have an even greater effect if they were adopted in part or in full also in emerging economies,” he expands.
Transport in the spotlight
Since most of the demand for oil comes from transportation, the IEA’s 10-Point Plan focuses on how to use less oil to get people and goods from A to B, “building on concrete measures that have already been used in a wide range of countries and cities”.
The short-term actions he proposes include reducing the amount of oil consumed by cars through lower speed limits, work from homeoccasional limits on car access to city centers, cheaper public transportation, more carpooling and other initiatives, as well as increased use of high-speed rail and virtual meetings instead of air travel.
“As a result of Russia’s terrible aggression against Ukraine, the world may be facing its biggest oil supply shock in decadeswith huge implications for our economies and societies,” said IEA Executive Director Fatih Birol, who launched the plan at a joint press conference with Barbara Pompili, France’s Minister for Ecological Transition, and who currently holds the Presidency of the European Union.
The IEA 10 Point Plan
- Reduce the Speed limits on highway at least 10 km/h
- Work at home at least three days a week
- car free sundays in the big cities
- Make public transport cheaperencourage micromobility, walking and cycling
- alternative use of private cars in the big cities
- encourage the carsharing and practices that reduce fuel consumption
- Promote efficient use freight and courier trucks
- Avoid work trips when there are alternatives
- Prioritize night and high-speed trains when it is possible
- Accelerating the adoption of electric and more efficient vehicles
“IEA member countries have already stepped in to support the world economy with an initial release of millions of barrels of emergency oil reserves, but we can also take action on demand to avoid the risk of a crippling oil crisis»said Dr. Birol.
Advanced economies account for nearly half of global oil demand. “Many of them, including the largest energy consumers, are obliged as members of the IEA to have restriction plans ready of oil demand as part of its emergency response measures,” the report recalls.
Ultimately, however, reducing oil demand does not depend solely on national governments. Several of the measures can be implemented directly by other layers of government, such as state, regional or local, or simply followed voluntarily by citizens and corporations, “which allows them to save money while showing solidarity with the people of Ukraine”.
The IEA report points out that the reduction in oil consumption should no longer be a temporary measure. Sustained reductions are important not only to improve countries’ energy security, but also to address climate change and reduce air pollution.
“Governments have all the necessary tools at their disposal to put oil demand in decline in the coming years,” says the report, which sets out the keys to achieving this goal, including electric vehicle adoption acceleratingrising fuel economy standards, increasing alternative fuel supplies, accelerating the deployment of heat pumps, and producing and consuming plastic more sustainably.