Chairmen Guthrie, Latta: Energy Security Requires Reliable and Objective Data
WASHINGTON, D.C. – Today, Congressman Brett Guthrie (KY-02), Chairman of the House Committee on Energy and Commerce, and Congressman Bob Latta (OH-05), Chairman of the Subcommittee on Energy, sent a letter to Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA), highlighting the IEA’s decision to restore the inclusion of objective data analysis in the World Energy Outlook (WEO). By bringing back the Current Policies Scenario (CPS) in the report, the IEA is returning to its core mission and working to promote energy security. “Strengthening our nation’s energy security is vital to securing our grid, powering AI and domestic manufacturing, and ensuring that Americans have the energy resources they need,” said Chairmen Guthrie and Latta. “For the last several years, IEA forecasts incorrectly assumed the peak demand for oil and natural gas would come before 2030. As a result, these forecasts deterred investments by painting an inaccurate picture of what energy markets will need in the future. By finally standing up to activist pressure opposing the use of oil and natural gas to power our economy, the IEA will once again be able to provide the unbiased market forecasts decision makers rely on to provide reliable and affordable energy into the future.” Key excerpts from the letter: “Maintaining objective data analysis, free from activism, is imperative. The IEA has long stood as an invaluable source of unbiased data and analysis on the security of oil markets. The agency’s work carries significant weight for policymakers, the energy industry, and global financial firms. “Yet in 2020, the IEA, under pressure from climate activists eager to exploit the agency’s credibility to discourage oil and gas investment, abandoned its longstanding CPS, and began only publishing WEOs that relied on subjective scenarios that assumed different degrees of adherence to climate action agreements. These aggressive Stated Policies Scenarios (STEPS), rely heavily on policy aspirations, while ignoring market realities. “In the United States alone, oil and natural gas account for about 74 percent of the primary energy sources consumed every year, with natural gas accounting for approximately 43 percent of electric power generation. Due to artificial intelligence and other technologies, the U.S. Energy Information Administration (EIA) forecasts significant natural gas demand growth over the next several years. As you know, the EIA maintains the use of a policy-neutral baseline reference case. “Politicized and censored demand scenarios can distort policy decisions and misguide capital investment. Just last year, the Biden-Harris Administration leveraged these questionable IEA projections, while ignoring EIA data, to support banning liquefied natural gas export projects. This decision discouraged sufficient capital allocation toward critical energy supplies and emboldened Russia’s war machine.” CLICK HERE to read the full letter. ###