Spare capacity has never been as low as it is today in upstream and downstream. A lot of investment is needed.
More Quotes from Claude Mandil:
The increase in emissions from China alone will exceed the increase in all the OECD countries and Russia combined.Claude Mandil
But governments can't do everything at the same time, as they won't have enough money left for research and development.
Claude Mandil
These projected trends have important implications and lead to a future that is not sustainable, ... We must change these outcomes and get the planet on to a sustainable energy path.
Claude Mandil
It can be extended without difficulty. It will be used when needed, if the market does not need it we will not weep.
Claude Mandil
The market will remain tight in the next three years. Upstream and downstream capacity is not enough.
Claude Mandil
The review was needed anyway as there are four refineries still shut. But on the other hand, the market has reacted well to Katrina, with flexibility.
Claude Mandil
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A political party is dying before our eyes-and I don't mean the Democrats. I'm talking about the mainstream media, which is being destroyed by the opposition.
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I still read Donne, particularly his love poems.
Carol Ann Duffy