IEA Head Says Energy Crisis Surpasses Previous Disruptions
IEA head Fatih Birol says the current Hormuz blockade has created a crisis worse than 1973, 1979 and 2002 combined. Developing nations face the highest risks.
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Fatih Birol, the head of the International Energy Agency (IEA), has stated that the current oil and gas crisis is significantly more severe than the energy shocks of 1973, 1979, and 2002 combined. In an interview with the French publication Le Figaro, Birol noted that the global community is facing an unprecedented level of supply disruption.
The world has never experienced a disruption to energy supply of such magnitude, he said in an interview with the French newspaper released in its Tuesday edition.
