This is likely to continue as demand for power grows mainly in the developing economies. But coal must remain competitively priced, especially as pollution abatement costs increase as carbon emission plans increase. |
We are absolutely delighted that President Bush has recognized at last that his country is addicted to oil. But the way he said it -- to get rid of dependence on Middle East oil -- will not help us convince those countries that they will have to increase their investment. |
We are on alert, |
We have 4 billion barrels in strategic stocks. |
We have demonstrated that we were able to decide at very short notice. We do not know a lot about Rita, whether it will make damage or not. |
We have lived in the most developed countries with overcapacity and now we are short of capacity everywhere. |
We imagine using something that is like a carrot without a stick. |
We must change these outcomes and get the planet onto a sustainable energy path. |
We will see whether there is a need to extend the decision and release more stocks or if the market can work alone, ... ...We would prefer for the market to work alone. |
What we decided was in response to a shortage caused by Hurricane Katrina, in a situation where there was lack of spare capacity, which is much more difficult to offset without the reserve release. The prices are a signal, but not the basis for us to decide. We are convinced that they have hurt the economy since last year. |