There is a strong sense of déjà vu in the bleak picture that the International Energy Agency (IEA) –– sometimes described as "the rich world's energy watchdog" –– painted last week of likely global energy consumption over the next two decades, and its consequences for climate change.
In the early 1970s, open conflict between the Arab states and Israel set oil prices skyrocketing. Simultaneously, the Club of Rome and other organisations warned that the world risked running out of many key natural resources. Both led to widespread calls for massive investment in alternative renewable-energy sources, and for new, non-energy-intensive lifestyles.
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