Question

Which of the following statements best describes the role of the International Energy Agency (IEA)?

• A. The IEA is a government-controlled organization focused solely on oil supply management and distribution.
• B. The IEA is an intergovernmental agency that provides advice on a wide range of energy-related issues and conducts research on various energy technologies and markets.
• C. The IEA is an independent regulatory body responsible for monitoring and enforcing international energy policies and agreements.
• D. The IEA is an international coalition of countries dedicated to promoting renewable energy technologies and reducing reliance on fossil fuels.

Answer 1

Answer:

B. The IEA is an intergovernmental agency that provides advice on a wide range of energy-related issues and conducts research on various energy technologies and markets.

The International Energy Agency (IEA)

• The International Energy Agency (IEA) is an autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
• The IEA was initially dedicated to responding to physical disruptions in the supply of oil, but its role has expanded over the years.
• The IEA examines the full spectrum of energy issues, including oil, gas, and coal supply and demand, renewable energy technologies, electricity markets, energy efficiency, access to energy, demand-side management, and more.
• The IEA also provides policy advice to member countries, conducts research and studies on various aspects of energy, and organizes training and capacity-building programs.
• Its mandate has broadened to focus on energy security, economic development, environmental awareness, and engagement worldwide.
• The IEA has 31 member countries, all of which are advanced economies.
• The agency also collaborates with non-member countries, especially emerging economies, to share best practices and promote international energy cooperation