Oil prices, along with gasoline prices, are on the rise globally due to supply chain disruptions and various countries severing ties with Russia. While this situation is concerning, some view the escalating prices as an opportunity to address the world’s reliance on fossil fuels, not just to alleviate fuel costs but to combat climate change.
The Paris-based International Energy Agency (IEA) has put forth a 10-point plan aimed at reducing gas consumption both in the short and long term. The suggested measures include:
- Reducing highway speed limits by at least 10 kilometers per hour (6.2 mph)
- Encouraging working from home at least three days a week
- Introducing car-free Sundays in cities
- Lowering public transport costs and promoting walking and cycling
- Using teleconferencing in place of air travel for business
- Prioritizing train travel over flights whenever possible
- Promoting car sharing and reducing private car usage in urban areas
- Enhancing the efficiency of freight vehicles
- Improving the effectiveness of electric vehicles
“We believe that the implementation of these measures in advanced economies alone could reduce oil demand by 2.7 million barrels per day within the next four months compared to current levels,” stated the IEA report.
Reduce speed limits and car-free Sundays: The IEA has a 10-point plan to cut oil use https://t.co/36XsyIkZlM
— CNBC (@CNBC) March 18, 2022
“Decreasing oil consumption should not be a temporary solution. Continuous reductions are vital to enhance energy security, address climate change, and minimize air pollution.”
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