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Continuing tough times require an ongoing approach to optimising assets, says President Greg Lewin
We also have to continue to look ahead and to maintain momentum in technology areas that stand to secure our long-term future.
The problems affecting the financial markets around the world are taking their toll on nations, companies and individuals alike, and it seems that most economic performance indicators are still pointing downwards.
History indicates, however, that we will eventually emerge from this phase of the economic cycle – when the now familiar long-term energy and climate challenges will still be there to greet us. This was the message conveyed by leading energy economist Fereidun Fesharaki at a recent Executive Summit hosted by Shell Global Solutions (page 6). He forecasts that demand will eventually begin to rise again – few would argue with that point.
I think it is vitally important that the difficult economic conditions we are facing do not divert us from the more fundamental long-term issue of balancing the global energy supply and demand equation.