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In Good Company with Nicolai Tangen

HIGHLIGHTS: Fatih Birol - Executive Director of the International Energy Agency

In Good Company with Nicolai Tangen

Norges Bank Investment Management

Norges Bank, Nicolai Tangen, Business, In Good Company

4.7 • 236 Ratings

🗓️ 3 April 2026

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We've curated a special 10-minute version of the podcast for those in a hurry.  

 

Here you can listen to the full episode: https://podcasts.apple.com/no/podcast/fatih-birol-global-energy-under-pressure-europes-mistakes/id1614211565?i=1000758565524&l=nb

Is the world facing the greatest energy security threat in history? Nicolai Tangen sits down with Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA), for a timely and urgent conversation about global energy. They discuss why the Middle East crisis surpasses all previous energy shocks combined, what the release of 400 million barrels of strategic reserves can and cannot achieve, and Europe's three historic energy mistakes, from over-reliance on Russian gas to stepping back from nuclear power. Fatih also shares his conviction that the future of transportation is electric and why cheap electricity will determine who wins the AI race.

In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don't miss our Highlight episodes every Friday. 

 

The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen, Sebastian Langvik-Hansen and Pål Huuse. Background research was conducted by Tobias Hyldmo and David Høysæther.

 

Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi everybody, tune in to this short version of the podcast, which we do every Friday for the long version.

0:06.5

Tune in on Wednesdays.

0:09.6

Hi everybody and welcome to In Good Company.

0:12.2

I'm Nicola Tangen, the CEO of the Norwegian Southern Welfand Fund.

0:15.2

And today we have a tremendous guest, Dr. Fati Birol, executive director of the International Energy Agency.

0:22.3

And wow, what a topical podcast this is going to be.

0:26.6

So, a big welcome, Fatie.

0:29.0

Thank you very much, Nicola.

0:30.8

Now, you have warned that markets and politicians are still underestimating the consequences

0:36.0

of the crisis in the Middle East.

0:38.2

What are they getting wrong?

0:41.8

You know, Nicola, we are an intergovernmental organization.

0:45.7

We work for the government's public institution.

0:49.5

After the war has started, since there are many market-related dynamics, I told my colleagues and myself,

1:00.2

three weeks we didn't make any public statement. But I saw that the decision-makers, governments,

1:09.3

in Europe, but around the world, didn't understand how big the problem is and can be, not for the energy sector, but for the global economy.

1:21.4

So it is the reason I decided it was a week ago or so to come up with some numbers, make the people understand

1:29.7

that this is a serious issue for all of us.

1:34.6

And the way to deal with this is, first, we recognize what a big problem it is.

1:40.4

And I tried to describe what the problem is.

1:43.2

And I think it was, in my view, a good move

1:46.6

that it gave a big drive to policymakers to discuss more intensely about the situation.

...

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