Focus on energy crisis

THE HAGUE, NOV 8: The energy crisis facing the world today came in for extensive discussion at the summit. Stating that the crisis has world-wide dimensions, the European Comm-ission president Romano Prodi termed the long-term effect of oil scarcity “dramatic.” Supply and demand will not be in equilibrium given the huge energy needs of India and China. EU on its part would not like growth and development in these two countries slow down on account of the energy crunch, he said. The world needs to do something now, he added. Mr Prodi minced no words, calling the energy situation an “emergency”. It needs to be tackled through renewed search for alternate sources of energy and greater R&D. “India and China are waking up, we can’t stop them now,” he said. (End of Article)
TheFinancialExpress-India