Global energy stockpiles for oil and natural gas have reached historic levels of coverage, significantly enhancing the world’s ability to navigate sudden supply interruptions. However, a major gap remains in the preparedness for shortages of the critical minerals and specialized equipment vital for the transition to clean energy, according to the authors of the newly released report.
“Foundations laid since the 1970s have strengthened the world’s ability to respond to energy supply shocks, though no country remains shielded from such risks,” the report states. It further highlights that while traditional fuel security is established, “Only four countries currently maintain formal stockpiling requirements for energy-related equipment, and many others are exploring their introduction.”
In simpler terms, while most nations have spent decades building a safety net to store extra gasoline and heating fuel for emergencies, they have not yet done the same for the parts and materials needed for green technologies. This means that although the world is better at managing the types of fuel crises seen in the past, it remains vulnerable to new types of shortages, such as a lack of the rare minerals required for batteries or wind turbines.
The report “State of Energy Policy 2026” was published by the International Energy Agency in France in April 2026. It was prepared by the World Energy Outlook team under the direction of Laura Cozzi, the IEA’s Chief Energy Modeller.
