Is this the first true crisis?

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The International Energy Agency (IEA) in its world energy outlook report has stated that the world is facing the first global energy crisis triggered by Russia’s invasion of Ukraine. According to IEA, the present energy crisis is “delivering a shock of unprecedented breadth and complexity.” But IEA is optimistic that demand for every fossil fuel will either reach peak or plateau soon. This in turn will lead to faster energy transition moving towards net zero.

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Bhamy Shenoy
Bhamy Shenoy
Dr. Bhamy V. Shenoy, an IITM graduate has worked for Conoco and over 50 years of experience in international oil industry. While at Conoco and as USAID consultant, he was involved in conducting energy studies for the US, Western Europe, Japan, Australia, Turkmenistan, Georgia, Ghana, etc. He served as a member of Exploration Advisory Committee to ONGC.

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