BERLIN. The International Energy Agency says the world can quickly cut global oil demand by 2.7 million barrels a day by reducing car and plane travel, helping ease a supply crisis caused by Russia’s invasion of Ukraine.
The Paris-based agency said in a report released Friday that “practical action by governments and citizens” could significantly reduce demand for oil, make fuel cheaper for consumers, cut Russia’s hydrocarbon revenues and step up efforts to reduce greenhouse gas emissions.
The IEA said its 10-point plan could, if fully implemented in advanced economies, cut oil demand by the same amount as all cars in China within four months.
He urged countries to take action in time for the annual peak demand season in July and August.
“As a result of Russia’s monstrous aggression against Ukraine, the world may well face the biggest oil supply shock in decades, with huge consequences for our economy and society,” said IEA Executive Director Fatih Birol.
The organization plan includes:
– Reducing the speed limit on motorways by at least 10 kilometers per hour (6 mph)
– Work from home up to three days a week where possible
– Introduction of Sunday without cars in cities
— Making public transport cheaper and encouraging people to walk or cycle.
— Alternation of the entrance of personal vehicles to the roads in large cities
— Increasing car sharing and other practices to reduce fuel consumption
— Contribute to the efficient management of cargo transportation and delivery
– If possible, give preference to high-speed and night trains instead of airplanes.
– Waiver of business air travel when there are alternatives such as economy class or video conferencing.
— Encouraging the introduction of electric and more efficient vehicles.
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