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Glossary: The International Energy Agency

By Pierre Tristam, About.com

Definition: The Paris-based International Energy Agency was founded during the 1973 oil crisis, initially as a coordinator of measures and policies for its member nations to counteract OPEC's oil embargo. It has since evolved into a much different organization.

Today, the IEA is a policy adviser to its 27-member nations, focusing on means to secure reliable, affordable and clean energy for the member states through the so-called "Three E's": energy security, economic development and environmental protection.

The IEA currently works on climate change policies, market reform, energy technology collaboration and outreach to the rest of the world, especially major consumers and producers of energy like China, India, Russia and the OPEC countries. It has a staff of around 190 from member states.

The organization also maintains an emergency stock of oil, which, by the end of 2006, stood at 4.1 billion barrels of oil at the end of 2006. (The United States' Strategic Petroleum reserve was above 700 million barrels of oil as of April 2008).

IEA Member nations include:

    Australia
  • Austria
  • Belgium
  • Canada
  • Czech Republic
  • Denmark
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Ireland
  • Italy
  • Japan
  • South Korea
  • Luxemburg
  • The Netherlands
  • New Zealand
  • Norway
  • Portugal
  • Slovak Republic
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • United Kingdom
  • United States

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