[Peakoil] Costello calls for transparency

[Alex P]

Hi folks,

Treasurer Costello is advocating more transparency in line with Matthew
Simmons' views. This may be a step on the way to an oil depletion protocol (
http://www.oildepletionprotocol.org ).

http://www.abc.net.au/lateline/content/2006/s1790629.htm

"
TONY JONES: Your key focus at this meeting is energy security. Will you be
attempting to convince energy producers, especially oil rich countries like
Saudi Arabia, to agree on stabilising prices over the long term? Is that
possible?

PETER COSTELLO: I think the key thing here is that we need a lot more
information in international energy markets. We need to know what's in
inventories. We need to know what investment is going in. We need to know
what additional supply can be generated over what timeframes. From a
supplier's point of view they'd like to know consuming countries inventories
consuming countries demands so that if they engage in new investment they
have certainty of supply. And my feeling is in the oil market - but not just
the oil market, in the international energy market generally - there is not
enough transparency. People are wary. There is a suspicion that there is
cartel activity going on and monopolistic practices and to the degree that
we can reduce cartelisation, monopolisation, improve transparency, we'll get
better supply and we'll get better prices.
"

Alex
O4O4873828

ACT Peak Oil
http://act-peakoil.org