well, my guest is fatih birol, boss of the international energy agency. he believes the answer is yes, but is he ignoring the political realities that he'll encounter in glasgow? fatih birol in paris, welcome to hardtalk. thank you very much, mr sackur. well, it's a pleasure to see you in your headquarters in paris. of course, very, very soon, you'll be in glasgow as a delegate at the cop26 conference. how unfortunate do you think the timing of the conference is amid an energy cost crisis, a supply crisis, but also with the covid pandemic still with us? it is very unfortunate, both of them. and we are seeing energy prices, coal, oil, and gas being very high. and not only that, the possible impact on the economy, but some people try to portray this as the first crisis of clean energy transitions, which is, i would say, completely wrong. but i see the risk that it may well be a barrier for further policy action to address climate change. this is definitely unfortunate, but there are some fortunate things, mr sackur. there is a great momentum among the count

fatih birol, the iea executive director.wall street, jp morgan largely in line, equities trading holding up nicely. the stock unchanged at 165.40. sonali basak will be back and we will recap those numbers for you. the week starts right now, and he gets busier and busier. futures of 7, advancing .2%. from new york in d.c. this morning, on radio and this is bloomberg. ♪ this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. >> it's a difficult to navigate at the moment because you have this stagflation narrative. >> households are still flush with cash, and businesses are flush with cash. >> there's sentiments, lower retail sales, very much feeding into why in

tom: fatih birol of the iea with comments on the energy market.ome all of you to an exceptionally important conversation. birol's iea put out a blistering four page executive summary which flat out says the distance from madrid to blast out is profound -- to glasgow is profound. with the it leads in the gathering and scotland in a matter of 26 days. ellen wald joins us this morning. within the pandemic and 2019, madrid's ancient news. fatih birol talks about the stoppard income basile fossil fuels. -- the stoppard incumbent -- the stoppard -- the stubborn incumbency of fossil fuels. they will not go away, will they? ellen: we do not have other options at this point. the technology is not there for us to rely on renewables for the kind of energy needs our modern life requires. lisa:, chicken the big energy players play a leading role, considering the transition fundamentally threatens their business model? ellen: the transition fundamentally threatens their business model, except the transition still relies on fossil fuels. one of the most interest