Event Summary
On February 13, the Brookings Institution hosted Nobuo Tanaka, executive director of the International Energy Agency (IEA), for a discussion on the need for enhanced global dialogue on energy policy, with an emphasis on energy security and climate change. With non-OECD countries such as China and India experiencing rapid growth and playing an increasingly large role in the global economy, the rise in world energy demand is expected to accelerate. Yet the extreme volatility of energy prices and the crisis in financial markets are making it difficult to plan sound long-term investments. At the same time, the climate change challenge will require a revolution in the way energy is supplied and used in the coming decades. It is clear that major developing countries must be full partners in the international effort to find solutions to these tough issues. Mr. Tanaka is calling for new ways of drawing on the IEA’s mechanisms and expertise to facilitate this much needed dialogue and to tackle energy challenges on a global basis.
Event Information
When
Friday, February 13, 2009
10:00 AM to 11:00 AM
Where
Falk Auditorium
The Brookings Institution
1775 Massachusetts Ave., NW
Washington, DC
Map
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Nobuo Tanaka took over as executive director of the IEA in September 2007. Prior to that, he had been director for science, technology and industry at the Paris-based Organisation for Economic Co-operation and Development. He was responsible for Japan’s involvement with the IEA and the G7 Energy Ministers meeting during the second oil crisis in 1979. In the late 1980s, he participated in establishing the comprehensive energy policy of Japan and he also oversaw the implementation of Japan’s international nuclear energy policy and led negotiations of bilateral nuclear agreements. Mr. Tanaka began his career in 1973 in the Ministry of Economy, Trade and Industry in Tokyo.
Senior Fellow Charles Ebinger provided introductory remarks and moderated the discussion. After the program, Mr. Tanaka took audience questions.
Transcript
MR. TANAKA: So now as humankind faces these urgent and unprecedented challenges in the energy sector, a genuinely global dialogue is needed. The dialogue should focus on energy security and climate change and, in relation to both of these issues, must address the challenge of adequate investment. It is my view that the IEA can and must remain at the center of such a global dialogue.
The IEA is the only international energy organization with expertise across the entire energy field. We have a philosophy of open markets and diversity of supply. We have a reputation for objective and independent analysis and we provide a range of forums in which governments -- both IEA members and non-IEA members -- as well as researchers and industry experts can come together to solve common problems in a practical and cooperative environment. The convergence around the world of policy objectives in the energy arena creates both the opportunity and the necessity for a genuinely global approach to energy policy cooperation. To achieve this, we may need new international institutional structure as some international leaders have already suggested such as Bob Zoellick. The IEA, with its extensive experience, existing capabilities and established relationship is well qualified to play a key role in the search for such new structures without substantial additional costs through utilizing and building on existing mechanisms. The extreme urgency of today's energy challenges require that this search begin at once. Its urgency is another reason why the IEA is well-suited for this kind of task.
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Participants
Introduction and Moderator
Director, Energy Security Initiative
Featured Speaker
Nobuo Tanaka
Executive Director, International Energy Agency