Energy Investment Crash Setting Stage For Price Spikes--IEA

Lobsenz, George
November 2009
Energy Daily;11/12/2009, p1
The article reports on the first significant decline in global energy use since World War II due to the 2009 recession, according to the annual "World Energy Outlook" report released by the International Energy Agency (IEA). Low energy prices and cash flows have prompted oil and gas drillers to reduce their investment by 19 percent in 2009. Investments in renewable energy suffered as much as 20 percent decline due to the financial and credit crisis.


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