9. G8 and Oil Security
Japan Economic Newswire ("G-8 CALLS FOR STABLE OIL SUPPLY, EYES SOLID WORLD ECO GROWTH," February 11, 2006) reported that Group of Eight finance ministers on Saturday called for greater investments by oil producers in drilling, transport and refining to ensure stable supply and improved energy efficiency among consumers in a joint quest to curb "high and volatile" oil prices. While confirming solid world economic growth in 2006, the ministers said after a two-day meeting in Moscow that rising oil prices, sparked most recently by the standoff over Iran's nuclear program, and the spread of avian influenza from Asia to parts of Europe and Africa pose a threat to economic growth and financial markets.
www.nautilus.org/aesnet/2006/March0106/JEN_G8.pdf
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