I would like to contribute some thoughts on the outlook to synchronized energy responsibility from the Ministers’ Rostrum of the IEF Newsletter.

It is very crucial to develop a pragmatic global vision on the relation between energy providers and consumers in the sense of their mutual responsibility especially with the ongoing severe challenges both are encountering.

It is crystal clear that energy affects many lives either through the hydrocarbons supplied or the development of new technologies in augmenting depleting resources to reach a substantial number of people around the world in illuminating their homes, keeping their cars running and strengthening their business, as well as assisting in boosting and sustaining their economies.

Having said that it is of utmost importance to inform our respectable consumers with some facts of our commitment towards them in revamping quality of life throughout the world and in order to achieve this mission we incorporate concerted efforts, risk, financial means, environmental concerns and social obligations.

Some communities are aware of the fact that conventional resources are depleting and they have already started considering certain measures to prolong the enjoyment of such luxury. Others may not have the right approach to energy preservation due to the variation in the cultural backgrounds of one client to another.

Since ages it has been and will remain our sole paramount responsibility as energy suppliers to sustain a reliable energy influx reflected by greater economic prosperity, improved standards of living, and production of a kaleidoscope of hydrocarbon products.

The challenge we face, as did our predecessors, in maintaining such success in the forthcoming period, will require a wide portfolio of energy options and scenarios especially under the current skyrocketing energy demand.

To guarantee enough energy in the future, it is not anymore required to set action plans and policies with a wishful approach. On the contrary a pragmatic invasion of global, regional and indigenous problems will produce a dandy outcome.

It is time for suppliers and consumers to foresee the repercussions of our present actions and habits, and the failure to have the same affordable and reliable energy later.

The hydrocarbon industry is a long-term business. The new supply of hydrocarbons the world utilizes currently is available due to action plans and policies set by our industry over the last decade or more. Similarly, the decisions we set today regarding the whole value chain of our industry will likely reflect on the outcome for many years to come.

We devote remarkable resources and concerted efforts to recognizing, analyzing and assimilating these long-term dynamics. Though we never claim an ability to predict the future, we are always working to identity and analyze the trends and issues most likely to affect the long-term world energy business. Through this effort, we develop a planning framework based on what we see as the outlook for energy.

In some societies it is time to move from self-awareness to public-awareness to help extricate some of their habits and perceptions to energy consumption.

In better words such communities are not sure that one day they will be subject to severe energy phase-out due to their present attitude in draining their resources and this phenomenon might be a cause of a long enjoyment of social schemes i.e. subsidies etc. — or overwhelmed by cheap natural resources coupled with the lack in cultural energy preservation for the future.

It is time to blow trumpets, out of our responsibility towards global future generations and this will emphasise the outlook to multilateralism in coaching and changing the old methodology of having strategic commodities suppliers in one end and on the other end clients just consuming it.

Telecommunication has managed to shrink the world and I believe it is time for this tool to be utilized in an augmenting manner to address critical issues for the sake of sustaining a quality future. One of the most vital issues that has to be addressed is developing the scenario of a win-win responsibility between suppliers and customers in some communities where the drain of their resources is substantial and won’t just reflect on their indigenous resources but on the global strategic scene.

It is our ultimate commitment to drive hard all means of securing our future prosperity and retaining the theme of prosperity as long as possible.