Invest in Energy, G8 Nations Says
May 25, 2009 by Mark Ellis
Filed under Business
According to the Group of Eight industrialized nations at the close of a meeting Rome, the world needs to invest in energy now in order to avoid the possibility of a surge in energy prices. Not investing in energy could slow down the recovery of the economy and damage our chances of prosperity in the future.
In their statements, ministers from the G8 and fifteen other countries concluded that the current financial crisis should not stand in the way of energy investment. Instead, countries that are able should make investment in energy one of their top priorities.
A handful of energy ministers from the Rome gathering will eventually make their way to discussing production quotas with OPEC. Although they hope to negotiate a deal with OPEC, the energy ministers are fairly certain that OPEC will continue producing as much oil as it has been.
Image: Flickr
