Full Title: Worldwide Engagement for Sustainable Energy Strategies
Author(s): International Energy Agency (IEA)
Publisher(s): International Energy Agency (IEA)
Publication Date: January 1, 2014
Full Text: Download Resource
Description (excerpt):
In the early 1970s, oil powered the global economy. The 24 industrialised member countries in the Organisation for Economic Co-operation and Development (OECD) accounted for 72% of world oil demand. The relatively new producer group, Organisation of Petroleum Exporting Countries (OPEC), produced 50% of the world’s oil. In 1974, when OAPEC (Organisation for Arab Petroleum Exporting Countries) implemented an embargo cutting oil supplies to major consumer countries, the International Energy Agency (IEA) was born.