The market will remain tight in the next three years. Upstream and downstream capacity is not enough.
More Quotes from 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
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
We have demonstrated that we were able to decide at very short notice. We do not know a lot about Rita, whether it will make damage or not.
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
Spare capacity has never been as low as it is today in upstream and downstream. A lot of investment is needed.
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
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