ARCHIVED - Drive slower and work from home: Energy Agency proposes 10-point plan to cut oil use in Spain
International Energy Agency proposes a number of traffic measures to reduce oil demand in Spain and elsewhere amid shortages and price hikes
The emerging global energy crisis triggered by Russia's invasion of Ukraine has prompted the International Energy Agency (IEA) to draw up a 10-point plan, including slashing speed limits, to cut oil use and put demand onto a "more sustainable path in the long term".
The conflict has thrown global commodity markets into turmoil, and the oil market – in which Russia is a major force – is one of the most heavily affected.
Russia is the world’s third largest oil producer and the largest oil exporter, and to counter the current and future problems, IEA calculates that if the 10-point plan was applied in developed countries, the equivalent of 2.7 million barrels of oil could be saved every day.
"However, losses could increase should restrictions or public condemnation escalate and a prolonged period of volatility for markets appears likely. The world may face its biggest oil supply shock in decades with huge implications for our economies and societies," added IEA in a statement on Friday March 18.
Hence the rationale for the shock plan, which comes on top of the decision taken by member states earlier this month to release 62.7 million barrels from their strategic reserves to ease market tensions.
So what does the 10-point plan recommend?
- Work from home up to three days a week where possible
- Reduce speed limits on highways by at least 10km/h
- Car-free Sundays in large cities
- Make public transport cheaper; incentivise micro-mobility, walking and cycling
- Urge car sharing and practices that decrease fuel use
- Alternate private car use in large citis
- Promote efficient use of freight trucks and goods delivery
- Prefer high-speed and night trains to planes where possible
- Hasten adoption of electric and more efficient vehicles
- Avoid business travel when alternatives exist
"We estimate that the full implementation of these measures in advanced economies alone can cut oil demand by 2.7 million barrels a day within the next four months, relative to current levels.
"Our report focuses on the potential effect of these measures in advanced economies, but their adoption in more countries would further increase their impact. Ensuring local and regional coordination of their implementation would maximise the impact," added IEA.
Image: Archive
Sign up for the Spanish News Today Editors Roundup Weekly Bulletin and get an email with all the week’s news straight to your inbox
Special offer: Subscribe now for 25% off (36.95 euros for 48 Bulletins)
OR
you can sign up to our FREE weekly roundup!
Read some of our recent bulletins:
25% Discount Special Offer subscription:
36.95€ for 48 Editor’s Weekly News Roundup bulletins!
Please CLICK THE BUTTON to subscribe.
(List price 3 months 12 Bulletins)
Read more stories from around Spain:
Contact Spanish News Today: Editorial 966 260 896 /
Office 968 018 268
