Tuesday, May 03, 2005

Oil? What's That?

Thinking Ahead Dep't: In the Gulf Times, Qatar is getting nervous that all these high prices might start the rest of the world thinking about just how it could live without fossil fuels:
Speaking at the first meeting of the officials of the petroleum research and development institutions in Opec member countries at the InterContinental yesterday, Abdulla H Salatt, senior adviser to the Second Deputy Premier, said alternative energy producers were actively pursuing research programmes to reduce the domination of oil and gas in global energy markets.

“Therefore we must have our own independent programmes directed at sustaining our position in the global energy market,” he said.

Without obstructing global economic growth, Opec needs to safely take the world to a stage where hydrocarbon resources will be diverted to more noble uses in the long-term. This can be facilitated by capacity building brought about by scientific research and technological applications, he said.

Salatt said Opec should not be distracted by the recent rise in oil prices. Its main focus should be finding new uses for oil and gas. This should motivate Opec to increase its spending on research and development not only in pure scientific research but also in the field of application.

Update 5/4: forgot to provide the story link.