Why We Shouldn’t Ridicule Oil Demand Reduction

The IEA recently released ‘A 10-Point Plan to Cut Oil Use’, but just how realistic is this plan? With the hope that state governments will incorporate the plan into national policy to curb oil use, it’s important to consider the likelihood of states making these changes and the viability of each of the ten points in practice.  The plan came in response to the Russian invasion of Ukraine and the subsequent threat to global energy security. Oil and gas prices have been steadily rising to record levels for months, but the Brent…