Desmarest: Efficiency Key to Avoiding Crisis

Improved energy efficiency is “a critical step in avoiding an energy crisis,” says Thierry Desmarest, chairman and chief executive officer of Total SA.

At a press conference, he pointed out that oil resources remain important, with conventional oil reserves representing 40 years of current consumption, more it did than 30 years ago when consumption was much lower. The challenge, Desmarest said, is to reduce oil demand growth to less than 1%/year.

“One cannot let oil demand grow to the peak oil stage,” he cautioned.
Oil & Gas Journal