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High oil prices affect poor countries, world economy minister

01.01.70

RIA Novosti, Mar 16
MOSCOW, March 16 (RIA Novosti) Russias industry and energy minister said Thursday that high oil prices had affected poor nations and hampered global economic growth.
Opening a meeting of G8 energy ministers in Moscow, Viktor Khristenko said: The price situation is not very favorable [on global markets] at the moment, as high oil prices have sent prices for other energy resources and some other products up.
He said the oil price fluctuations and their contingency on unpredictable economic factors influenced global economic trends, and were particularly harmful for poor nations.
Energy ministers from the Group of Eight leading industrialized nations are attending a two-day series of meetings in Moscow starting Thursday.
The talks, being held at the Kremlin, are expected to focus on a range of issues, including diversification of energy supplies in the face of increasing demand, as well as development and implementation of clean technologies. Russia has declared energy security the No. 1 issue for its G8 presidency this year.

Expert opinion

Halter Marek

02.12.06

Halter Marek
Le College de France
Olivier Giscard dEstaing

02.12.06

Olivier Giscard dEstaing
COPAM, France
Mika Ohbayashi

02.12.06

Mika Ohbayashi
Institute for Sustainable Energy Poliy
Bill Pace

02.12.06

Bill Pace
World Federalist Movement - Institute for Global Policy
Peter I. Hajnal

01.12.06

Peter I. Hajnal
Toronto University, G8 Research Group