Oil execs: Costly crude here to stay for years

As oil set a new record, top industry executives and a senior EU official on Monday urged the world to pull together in the face of skyrocketing energy prices, while acknowledging that — even if it does — costly crude is here to stay for years

The comments to the World Petroleum Congress by EU Energy Commissioner Andris Piebalgs and the heads of Shell, BP and Spanish Repsol reflected a key theme of the four-day meeting — how to bring order into volatile and ever pricier oil and related energy markets.

CNN