Energy Delusions: Unpacking IEA's Annual Outlook and Its Criticisms

A report titled 'Energy Delusions' by former IEA oil director Neil Atkinson challenges the International Energy Agency's energy outlook. It highlights flawed assumptions, arguing that the IEA underestimates emerging oil markets and overestimates electric vehicle growth, contrasting with the Trump administration's focus on traditional energy sectors.

The International Energy Agency needs to revamp its annual energy outlook assessment, suggests a report released Wednesday by former oil director Neil Atkinson. The report argues that the agency's projections are not aligned with real-world scenarios.

Atkinson's report, titled 'Energy Delusions', was written for the National Center for Energy Analytics think tank. It aims to influence President Donald Trump's new administration by scrutinizing the IEA's assumption that the global oil economy would peak by 2030, discouraging new oil and gas investments.

The report criticizes the IEA for underestimating growth in emerging oil markets and the petrochemicals sector, while overestimating electric vehicle adoption. This comes amidst rising tensions between the IEA's clean energy focus and Trump's traditional energy agenda, further complicating global energy strategies.

(With inputs from agencies.)