Middle East war triggers energy crisis IEA Director: May accelerate green energy development

The Executive Director of the International Energy Agency (IEA), Fatih Birol, stated that the energy crisis triggered by the Middle East war will accelerate the development of renewable energy, nuclear energy, and electric vehicles. He pointed out that the current level of energy tightening far exceeds the total of the crises in 1973, 1979, and 2022, especially with Iran's blockade of the Strait of Hormuz leading to soaring fuel prices. Nevertheless, Birol holds an optimistic view on the future energy transition, believing that the rapid development of renewable energy will change the global energy structure. He urged countries to conserve energy in the short term and warned of a potential "Black April."