IEA chief: worldwide energy crisis looming

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IEA chief: worldwide energy crisis looming

Postby proldic » Sat Sep 03, 2005 12:47 pm

Reuters 9/03/05 <br> <br>IEA chief warns of worldwide energy crisis<br><br>The head of the West's energy watchdog said in an interview on Saturday that Hurricane Katrina could spark a worldwide energy crisis if damage to U.S. refineries led to a big increase in U.S. purchases of European petrol.<br><br>"If the crisis affects oil products then it's a worldwide crisis. No one should think this will be limited to the United States," Claude Mandil, head of the Paris-based International Energy Agency (IEA) told German daily Die Welt.<br><br>"They are already buying gasoline in Europe. If the refineries are damaged, that will only increase. Then this will become a worldwide crisis very quickly."<br><br>Mandil told the paper that high oil prices represented a risk for global economic growth and urged consumers to alter their behaviour to save more energy and limit the fallout.<br><br>Poor countries were bound to suffer most from a recent surge in energy prices, which has been aggravated by Katrina and the shortages it has caused, he said.<br><br>On Friday, the IEA launched a rescue plan to ease those shortages, saying its 26 members would release two million barrels per day of oil over a 30-day period.<br><br>U.S. gasoline prices have spiked by nearly a fifth over the past week, pushing up fuel prices around the world.<br><br><!--EZCODE AUTOLINK START--><a href=""></a><!--EZCODE AUTOLINK END--> <p></p><i></i>
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Re: IEA chief: worldwide energy crisis looming

Postby DrDebugDU » Sat Sep 03, 2005 12:54 pm

I think that the subject is wrong:<br><br>IEA chief: creating a worldwide energy crisis<br><br>Because disasters can and will be exploited for huge profits... <p></p><i></i>
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