The world is facing the “largest energy security crisis” in history as the Middle East war forces countries to scramble for new supply routes, expand domestic energy production and rethink long-term investment strategies, the International Energy Agency (IEA) said Thursday.
“We are in the midst of the largest energy security crisis the world has ever faced -- and I believe this will reshape investment strategies globally, with parallels to the major changes the energy world witnessed after the oil shocks of the 1970s,” said IEA executive director Fatih Birol in the agency’s latest World Energy Investment report.
