The Mother of All Energy Crises | Ep253: Fatih Birol

The news agenda this year has been entirely dominated by energy related stories, whether it's the war in Europe being pursued by Russia — formerly Europe's most significant energy provider — the U.S. capturing the head of state of Venezuela — which has some of the biggest oil reserves in the world — or the ongoing attack by Israel and the U.S. on Iran and all its ramifications.

But there is also another story, which is the long term rift between the U.S. and the rest of the world about whether and how fast we should be addressing climate change.

This week on Cleaning Up, Michael Liebreich is joined by Dr Fatih Birol, executive director of the International Energy Agency, for his third appearance on the podcast. He discusses the International Energy Agency’s integral role in trying to steer the world through the current energy crisis, how he sees the global energy system change in response to the crisis, and how his organisation is facing up to criticism from the US over its net-zero scenarios.

Fatih and Michael discuss:

• Why the current crisis could surpass the oil shocks of the 1970s
• How the International Energy Agency is helping stabilize global markets
• Efficiency measures and the need to reopen the Strait of Hormuz
• Why solar, batteries, and nuclear may surge amid the chaos
• Why countries are looking toward coal to fill the gap
• Whether energy security is now overtaking climate as the top priority
• The growing divide between the U.S. and global institutions on climate policy
• And why Birol insists: “Data always wins.”

As Executive Director of the International Energy Agency, Fatih has positioned the Agency at the centre of global efforts to advance a secure, affordable, and sustainable energy system. Dr Birol joined the IEA in the mid-1990s and progressed from junior analyst to Chief Economist, where he oversaw the flagship World Energy Outlook.

He has been included in the TIME100 list of the world’s most influential figures and recognised by Forbes as one of the world’s most influential figures in energy. He chairs the World Economic Forum’s Energy Advisory Board and is an honorary life member of Galatasaray Football Club.

This episode was recorded on March 19, 2026.

Leadership Circle:

Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, EcoPragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live

Links and more:

• The International Energy Agency: https://www.iea.org/
• Sheltering from Oil Shocks report: https://www.iea.org/reports/sheltering-from-oil-shocks
• Fatih’s LinkedIn: https://www.linkedin.com/in/fatih-birol/
• The World Energy Outlook 2025: https://www.iea.org/reports/world-energy-outlook-2025
• Fatih’s past appearance on Cleaning Up
  • The World's Preeminent Energy Economist - Ep133: Fatih Birol: https://www.youtube.com/watch?v=Xc7ItnBRqXI
  • Setting the World's Energy Agenda - Ep28: Fatih Birol – https://www.youtube.com/watch?v=hW5aPlRI44I