Abstract
Created in 1974 by industrialized Western countries in response to the first oil shock, the International Energy Agency (IEA) is generally regarded as the world’s foremost multilateral energy organization. The IEA was founded with two principal purposes. One was to administer a system of strategic oil stocks that could be jointly deployed in case of a sudden oil supply shortfall, while the other was to provide information, gather and disseminate statistics and give policy advice to its member governments. For practical purposes, the IEA was nested within the orbit of the existing Organisation for Economic Co-operation and Development (OECD), based in Paris. It nowadays assembles 29 member states, all drawn from the industrialized democracies of Europe, North America, Asia and the Pacific.
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Van de Graaf, T. (2015). The IEA, the New Energy Order and the Future of Global Energy Governance. In: Lesage, D., Van de Graaf, T. (eds) Rising Powers and Multilateral Institutions. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137397607_5
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DOI: https://doi.org/10.1057/9781137397607_5
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