World Economic Forum: No Looming Energy Crisis

There are adequate world energy supplies, and the market and governing energy institutions will be able to absorb energy shocks, according to energy chief executives speaking at the World Economic Forum annual meeting that concluded today in Davos. More than 2,300 participants from 89 countries spent five days seeking workable responses to the global challenges of energy, environment and sustainable development.

“There is no reason for pessimism,” declared Jeroen van der Veer, chief executive of Royal Dutch Shell, today at a press conference devoted to energy security. “Easy oil may have peaked,” he said, but high oil prices are providing the public and private sectors with the incentive to invest in discovering alternative sources of energy which are in plentiful supply.

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