International Energy Agency out with a report 11 July
- 2.2% of global GDP
- 2nd consecutive year of decline
- investments in electricity surpassed those in oil and gas for the first time ever in 2016
- oil and gas investment to rebound modestly by 3% in 2017 on US shale
- China was leading global destination for energy investments in 2016
Says Dr Fatih Birol, the IEA's Executive Director:
"As the oil and gas industry refocuses on shorter-cycle projects, the need for policymakers to keep an eye on the long-term adequacy of supply is more important. Even with ambitious climate-mitigation goals, current investment activity in oil and gas will have to rise from its current slump."
"The good news is that in spite of low energy prices, energy efficiency spending is rising thanks to strong government policies in key markets."
Full report here
IEA reports 2nd year of decline in global energy investment
