IEA: How to Save Oil in case of emergency

The IEA has made available a draft version of the forthcoming book “Saving Oil in a Hurry: Measures for Rapid Demand Restraint in Transport” (pdf file, 739 KB). In this document, compiled by the AIE in response of the unprecedented oil price levels in the last year, the agency remembers its role as a watchdog of energy security, and that all IEA member countries are obliged to “not only to maintain emergency oil reserves, but also to apply voluntary and mandatory measures for reducing oil consumption on very short notice during an oil supply disruption”. Citing historic cases like The British fuel protests of 2000, the Australian industrial dispute of 1981 or the 1970’s fuel crises, the AIE has come up with a list of measures to decrease oil consumption very fast in case of oil supply disruptions and the accompanying hike prices. Some of those measures are car pooling, driving bans, and reduction of maximum speed. The agency says that if we would limit the speed in Europe to 90 km/h, we would save half a million barrels a day.