Humanity is facing"the first truly global energy crisis," IEA Director Fatih Birol said Tuesday at Singapore’s International Energy Week.
The additional squeeze could lead to a sharp supply-demand imbalance, he said, since just 20 million cubic meters of new LNG capacity will hit the markets next year. "[The cuts are] especially risky as several economies around the world are on the brink of a recession. ... I found this decision really unfortunate," he said.
The Biden administration has been a strong supporter of the plan, and U.S. Treasury Secretary Janet Yellen and senior department officials traversed the globe earlier this year in hopes of building out a global coalition to support the effort.
No, we're in a globalist crisis.
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