The US may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, President Donald Trump’s energy chief said. - Bloomberg
The US may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, President Donald Trump’s energy chief said. “We will do one of two things: we will reform the way the IEA operates or we will withdraw,”
The US may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, said President Donald Trump’s energy chief https://t.co/5JGNL29zsq
The United States has warned that it may withdraw from the International Energy Agency unless the Paris-based body revises what Washington calls overly optimistic projections for the speed of the global green transition. U.S. officials argue that the IEA’s flagship outlooks underestimate future demand for oil, natural gas and coal, skewing investment decisions across the energy sector. President Donald Trump’s energy secretary said on 15 July the administration would "do one of two things: we will reform the way the IEA operates or we will withdraw." Republican lawmakers have long criticized the agency’s scenarios for assuming an accelerated shift away from fossil fuels, contending that the forecasts discourage capital spending needed to meet demand. A U.S. exit would be the first by a founding member since the IEA was created in 1974 to coordinate energy security policy among advanced economies. The threat adds to tensions in international climate diplomacy and could diminish the influence of the agency’s widely followed market reports if the world’s largest oil and gas producer walks away.