We are absolutely delighted that President Bush has recognized at last that his country is addicted to oil. But the way he said it -- to get rid of dependence on Middle East oil -- will not help us convince those countries that they will have to increase their investment.
More Quotes from 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
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 market will remain tight in the next three years. Upstream and downstream capacity is not enough.
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
If there was supply disruption either created by Nigeria, Iran or both, that would lead, no doubt about that, to a stock release from the IEA countries.
Claude Mandil
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