The Executive Director of the International Energy Agency (IEA) has warned that curbing rising fossil fuel prices will require significant investments and further development and deployment of renewable energy technologies, energy efficiency, and advanced vehicles. Nobuo Tanaka noted that the renewed debate on nuclear energy could have an impact, not only on climate change but also energy security.
“The age of cheap energy is over,” Mr. Tanaka said, speaking at the Bridge Forum Dialogue in Luxembourg on 13 April 2011. “The only question now is, will the extra rent from dearer energy go to an ever smaller circle of producers, or will it be directed back into the domestic economies of the consumers, with the added benefits of increased environmental sustainability?”
Read more: International Energy Agency