Energy outlook gloomiest ever: IEA

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Rich countries have failed to take concrete action to increase energy security and slow down climate change, said Fatih Birol, also the IEA's chief economist.

"This is the book that provides the most pessimistic outlook," he said.

"In none of the OECD countries, can I say the effort is satisfactory to change the trends we are in. This is the reason we have come up with pessimistic views," Birol added.

He urged developed countries to find urgent ways to ease oil demand growth, improve energy efficiency and provide an international framework to address climate change.

"We believe that we are not running out of energy resources, we have enough money but what we are running out of is time," Birol said.

The Paris-based agency that acts as energy adviser to 26 industrialised countries said in the outlook that global energy demand was likely to rise by 50 percent between now and 2030, with China and India accounting for a hefty 45 percent of this increase.

"The more we sit back and watch the game, the less time we have to fix the problem," Birol said.

He also warned against rich nations putting the blame for the drastic projected increase in global energy demand on China and India and said the agency did not believe the two fast-growing economies should be condemned.

"To believe China and India are to blame is wrong because these countries have the right to grow," Birol said. "In India today more than 400 million people have no access to electricity."

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