G8 ministers vow new 'green' efforts

[Manuel]

Faced with record-high oil prices, the world's leading economies and oil consumers have pledged greater investment in energy efficiency and green technologies to control their spiraling thirst for petroleum.

In a joint statement, energy ministers from the Group of Eight countries -- joined by China, India and South Korea -- also urged oil producers to boost output, which has stalled at about 85 million barrels a day since 2005, and called for cooperation between buyers and producers.

But with little prospect for a production surge soon, the focus of Sunday's meeting in Japan was on what wealthy nations should do to rein in consumption, while reducing carbon emissions blamed for global warming.

"We also have to address too the demand side of the equation," said John Hutton, Britain's business secretary. "We will do that through new measures to improve energy efficiency (and) accelerate our moves to a new, low-carbon form of energy generation."

For instance, the G8 countries -- the United States, Japan, Russia, Germany, France, Britain, Italy and Canada -- pledged to launch 20 demonstration projects by 2010 on so-called "carbon capture and storage," which would let power plants run on cheap, abundant coal, then catch emissions store them under the ground.

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Full article - G8 ministers vow new 'green' efforts - CNN.com

 

[Gunny]

Full article - G8 ministers vow new 'green' efforts - CNN.com

I'm not sure I see this G8 junk. It seems to me it doesn't do a lot of good for these countries to agree on anything since they do not include the producers of oil products/petroleum.

It's like agreeing to share something we don't own.

I'd prefer to see the US actually take the lead on developing a viable alternative fuel source and allowing anyone that wants to BUY in to do so.