IEA: Energy Crisis Shouldn't Lead To Higher Reliance On Fossil Fuels

The current energy crisis and record fuel prices should not be an excuse for the world to increase further its dependence on fossil fuels, the Executive Director of the International Energy Agency (IEA), Fatih Birol, said on Monday. "We need fossil fuels in the short term, but let's not lock in our future by using the current situation as an excuse to justify some of the investments being done.

Time-wise, it doesn't work, and morally in my view, it doesn't work as well," Birol said at the annual meeting of the World Economic Forum in Switzerland,…