In Good Company with Nicolai Tangen HIGHLIGHTS: Fatih Birol - Executive Director of the International Energy Agency
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Apr 3, 2026 
Fatih Birol, Executive Director of the International Energy Agency and expert in global energy markets, offers urgent analysis of the current crisis. He explains why the Middle East shock dwarfs past energy disruptions. He discusses strategic oil releases, Europe's costly policy mistakes, and the accelerating shift to electrification, renewables, and a nuclear revival.
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Announce Clear Numbers To Mobilize Action
- A clear first step is to acknowledge the scale of the problem publicly to mobilize policy response and market action.
- Fatih Birol deliberately released numbers to wake policymakers globally and spur more intense discussion and measures.
Crisis Bigger Than 1973 1979 And 2022
- The current Middle East crisis is the largest energy shock in modern history, exceeding the combined impact of the 1973 and 1979 oil crises plus the 2022 Russian gas cuts.
- Fatih Birol quantifies the hit as about 12 million barrels per day lost in oil and gas losses exceeding the 75 bcm cut from Russia, making it larger than those three crises combined.
Open The Strait Of Hormuz Immediately
- The single most important solution to the current disruption is reopening the Strait of Hormuz to restore global flows.
- Birol emphasizes geopolitical resolution there as more consequential than piecemeal market measures.