International Monetary Fund & Oil Depletion

[martinezhockley]

I'm still hopefull that more powerfull people than we are at the moment, will bring the problem to the political forefront:
The International Monetary Fund held its annual assembly in Washington on Saturday(?) Its current director Rodrigo Rato (ex-finance minister for Spain?s right-wing Partido Popular who held power until the terrorist bombs in Madrid in March 2004, and who, under Aznar?s leadership, took Spain into George W. Bush?s war with Iraq.) placed the high price of petrol at the forefront of his speech. I translate from today?s El Pa?s:

?The petroleum producing countries need to continue their programme of investment in order to increase production. Consumer countries need to act swiftly in order to increase public awareness, strengthen energy conservation measures and improve energy efficiency. They must also stimulate development of alternative energy sources and begin expanding their refining capacities.?

It may not look like much on the face of it, but coming from the IMF, it is Big News. For the first time, a major international political body has spoken of ?acting swiftly to increase public awareness?. Okay, he?s placing the ball in someone else?s court, but at least he said it in public, and in Washington, no less. He?ll probably lose his job next week!