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The International Energy Agency is a Paris-based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development in 1974 in the wake of the 1973 oil crisis. The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors.The IEA acts as a policy adviser to its member states, but also works with non-member countries, especially China, India, and Russia. The Agency's mandate has broadened to focus on the "3Es" of effectual energy policy: energy security, economic development, and environmental protection. The latter has focused on mitigating climate change. The IEA has a broad role in promoting alternate energy sources , rational energy policies, and multinational energy technology co-operation.IEA member countries are required to maintain total oil stock levels equivalent to at least 90 days of the previous year's net imports. At the end of July 2009, IEA member countries held a combined stockpile of almost 4,300,000,000 barrels of oil.On March 11, 2011, Former Dutch Minister of Economic Affairs, Maria van der Hoeven, was selected Executive Director. On 1 September 2011, she succeeded in this position Nobuo Tanaka. The Deputy Executive Director position is currently vacant. Wikipedia.

Buyuksahin B.,International Energy Agency | Harris J.H.,University of Delaware
Energy Journal | Year: 2011

The coincident rise in crude oil prices and increased number of financial participants in the crude oil futures market from 2000-2008 has led to allegations that "speculators" drive crude oil prices. As crude oil futures peaked at $ 147/bbl in July 2008, the role of speculators came under heated debate. In this paper, we employ unique data from the U.S. Commodity Futures Trading Commission (CFTC) to test the relation between crude oil prices and the trading positions of various types of traders in the crude oil futures market. We employ Granger Causality tests to analyze lead and lag relations between price and position data at daily and multiple day intervals. We find little evidence that hedge funds and other non-commercial (speculator) position changes Granger-cause price changes; the results instead suggest that price changes precede their position changes. Copyright © 2011 by the IAEE. All rights reserved.

Taibi E.,Secretariat of the Pacific Community SPC | Gielen D.,International Energy Agency | Bazilian M.,United Nations Industrial Development Organisation UNIDO
Renewable and Sustainable Energy Reviews | Year: 2012

To date, insufficient attention has been paid to the potential of renewable energy resources in industrial applications. Our analysis suggests that up to 21% of final energy demand and feedstock-use in the manufacturing industry sector could be of renewable origin by 2050, a five-fold increase over current levels in absolute terms. This estimate is considerably higher than other recent global scenario studies. In addition, if a 50% share of renewables in power generation is assumed, the share of direct and indirect renewable energy use rises to 31% in 2050. Our analysis further suggests that bioenergy and biofeedstocks can constitute three-quarters of the direct renewables use in this sector by 2050. The remainder is roughly evenly divided between solar heating and heat pumps. The potential for solar cooling is considered to be limited. While low-temperature solar process heat can reach cost-effectiveness today in locations with good insolation, some bioenergy applications will require a CO2 price even on the longer term. Biomass feedstock for synthetic organic materials will require a CO2 price up to USD 100/t CO 2, or even more if embodied carbon is not considered properly in CO2 accounts. Future fossil fuel prices and bioenergy prices in addition to the development of feedstock commodity markets for biomass will be critical. Decision makers are recommended to pay more attention to the potential for renewables in industry. Finally, we propose the development of a detailed technology roadmap to explore this potential further and discuss key issues that need to be elaborated in such a framework. © 2011 Elsevier Ltd. All rights reserved.

Rubin E.S.,Carnegie Mellon University | Davison J.E.,International Energy Agency | Herzog H.J.,Massachusetts Institute of Technology
International Journal of Greenhouse Gas Control | Year: 2015

The objective of this paper is to assess the current costs of CO2 capture and storage (CCS) for new fossil fuel power plants and to compare those results to the costs reported a decade ago in the IPCC Special Report on Carbon Dioxide Capture and Storage (SRCCS). Toward that end, we employed a similar methodology based on review and analysis of recent cost studies for the major CCS options identified in the SRCCS, namely, post-combustion CO2 capture at supercritical pulverized coal (SCPC) and natural gas combined cycle (NGCC) power plants, plus pre-combustion capture at coal-based integrated gasification combined cycle (IGCC) power plants. We also report current costs for SCPC plants employing oxy-combustion for CO2 capture - an option that was still in the early stages of development at the time of the SRCCS. To compare current CCS cost estimates to those in the SRCCS, we adjust all costs to constant 2013 US dollars using cost indices for power plant capital costs, fuel costs and other O&M costs. On this basis, we report changes in capital cost, levelized cost of electricity, and mitigation costs for each power plant system with and without CCS. We also discuss the outlook for future CCS costs. © 2015 Elsevier Ltd.

Finkenrath M.,International Energy Agency | Finkenrath M.,Kempten University of Applied Sciences
Chemical Engineering and Technology | Year: 2012

Energy scenarios suggest that CO 2 capture and storage (CCS) from power plants might contribute significantly to global greenhouse gas emission reduction. Since CCS from power generation is an emerging technology that has not been demonstrated on a commercial scale, related cost and performance information is still uncertain. This paper presents a detailed analysis of the impact of adding CO 2 capture and compression process equipment to fossil-fuelled power plants. For coal-fired power generation, no single capture technology outperforms available alternative capture processes in terms of cost and performance. © 2012 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

Tanaka N.,International Energy Agency
Energy Strategy Reviews | Year: 2013

Japan is at the crossroads of a major energy policy change after the Fukushima Daiichi accident. Only two nuclear reactors are operating and there is a persisting risk of an Iranian oil crisis. A new nuclear regulatory commission will be established to review all the safety regulations. Japan is paying billions of dollars for additional oil and natural gas for its power sector. Renewable feed in tariffs are implemented. High electricity costs may likely disturb industrial activities and citizens life in Japan. Power market reforms are imminent while TEPCO is nationalized. Russia wishes to sell electricity to Japan through a new grid interconnection. A post-Fukushima Energy Big bang is certainly in the making in Japan - but the choosing the right energy transition strategy will help to get lasting solutions in place. •Japan is at the crossroads of energy policy making after the Fukushima.•Nuclear should remain an important part of the new energy mix for Japan.•Iranian crisis may trigger the compounding economic crisis of Japan. © 2013 .

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