IEA's 10-Point Plan to Cut Oil Demand

0:00Hey, it's Cory with the story with Sydney News today, your city, your news, every day. The International Energy Agency just released a 10-point plan to cut oil demand worldwide. It's a direct response to massive supply shortages from the ongoing war in the Middle East, where attacks have blocked key shipping routes like the Shred of Hormuz and hip production plants. Earlier this week, the agency outlined steps like working from home war, dropping highway speed limits by 10 kilometers an hour and pushing public. Transport and carpooling. They also suggest odds and evens license plate rules in big cities to limit car use and favoring electric appliances in new homes. People are already filling the pinch from skyrocketing fuel prices, with gas hitting $2.50 a liter in some spots, and climbing A. Third in the U.S. to nearly $4 a gallon. This is sparked a rush to electric vehicles as buyers crunch the numbers and see long-term savings. Experts warn the crisis will ensune,

1:01with Qatar confirming years long damage to its liquefied natural gas plan. Oil prices could soon reach $120 to $150 a barrel, forcing demand destruction as costs soar for everything. Oil, related. Meanwhile, companies like Tesla are ramping up electric trucks, drawing praise from drivers for range and savings. These shifts highlight how supply shocks are accelerating, moves away from traditional fuels, reshaping energy habits for the long haul.