Why We Still Need Oil & Gas For Decades To Come

Earlier this month, in an op-ed for the Financial Times, the head of the International Energy Agency, Fatih Birol, wrote that renewable energy was expanding faster than many thought. The energy crisis sparked by the war in Ukraine, he said, was reshaping the global energy systems, making many countries realize that wind and solar were the safer bet.

The transition, the message went, was well underway, and fossil fuels were on their way out. This is not the first time Birol, or the IEA as a whole, delivered this message. Neither is the…