The IEA (INTERNATIONAL Energy Agency) is a creature of the 1970s.
Specifically it was founded in 1974 with a DUAL MANDATE: 1) to promote energy SECURITY amongst its members (29 member COUNTRIES) via COLLECTIVE RESPONSE to physical disruptions in oil supply and to ADVISE member countries on energy POLICY.
Members have to hold emergency oil stocks amounting to 90 days of net imports.
The IEA produces interesting research reports, including country-specific ones on topics such as India's downstream petroleum sector (role of oil marketing companies (OMCs), explanation of under-recoveries and so forth).
OECD (The Organisation for Economic Co-operation and Development) membership is NECESSARY BUT NOT SUFFICIENT for IEA membership. The OECD has its roots in the 1948 creation of the OECC to run the US-financed Marshall Plan.
Specifically it was founded in 1974 with a DUAL MANDATE: 1) to promote energy SECURITY amongst its members (29 member COUNTRIES) via COLLECTIVE RESPONSE to physical disruptions in oil supply and to ADVISE member countries on energy POLICY.
Members have to hold emergency oil stocks amounting to 90 days of net imports.
The IEA produces interesting research reports, including country-specific ones on topics such as India's downstream petroleum sector (role of oil marketing companies (OMCs), explanation of under-recoveries and so forth).
OECD (The Organisation for Economic Co-operation and Development) membership is NECESSARY BUT NOT SUFFICIENT for IEA membership. The OECD has its roots in the 1948 creation of the OECC to run the US-financed Marshall Plan.
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