Adopting a 10-point plan that includes carless Sundays would eliminate 2.7 million barrels of oil consumption per day within four months if fully implemented by advanced nations in response to Russia’s invasion of Ukraine, according to the International Energy Agency (IEA).
“This would significantly reduce potential strains at a time when a large amount of Russian supplies may no longer reach the market, and the peak demand season of July and August is approaching. The measures would have an even greater effect if adopted in part, or in full, in emerging economies as well.”
Adopting the plan now, in response to the Russian invasion of Ukraine, which has put Russian supplies of natural gas and oil in question, would also hasten the world economy’s transition from a fossil-fuel energy base to a renewable energy sources foundation and to net-zero carbon emissions by 2050, according to the IEA.
The IEA was formed in 1974 in the wake of the 1973 OPEC oil crisis under the Organization for Economic Development and Cooperation (OECD), which is based in Paris. The United States is one of the IEA’s 31 member-nations.
The IEA’s 10-point plan includes reducing speed limits by at least 6 miles per hour, making public transportation more affordable, encouraging more walking and bicycling, banning cars and trucks from large cities on Sundays, allowing driving vehicles only on odd/even license tag-based schedules, working from home at least three days per week, rewarding carpooling, promoting more efficient supply chains, hastening the adoption of Electric Vehicles (EVs), using high-speed and night trains instead of aircraft, and avoiding business travel whenever possible.
The Energy Department estimates that Russian oil sales, which are primarily to Europe and China, could be reduced by as much as 2.5 million barrels per day, but the agency stated that “losses could increase should restrictions or public condemnation escalate. A prolonged period of volatility for markets appears likely.”
