The 11th International Energy Forum is taking place at a decisive juncture. More than ever before, the political agenda is dominated by the question of a secure, affordable and climate-friendly supply of energy. More than ever before, dialogue and co-operation are important.

One issue in particular is predominant: the rising oil price. This issue was also at the heart of the last International Energy Forum in Doha. Anyone who hoped that the continuation of the dialogue outside the ministerial conference would steady the markets and bring about a lasting reduction in the price of oil has been disappointed. The oil price today is significantly higher.

For this reason, the International Energy Forum has taken on the task of co-ordinating a database for an exchange of information on the oil market. JODI, this first joint project, remains a vital task. We need a further improvement in transparency, and co-operation between the stakeholders needs to be expanded and consolidated. Timely, precise and reliable reports of all relevant data, and the participation of additional countries, are especially important.

Similarly, the concern about sufficient and timely investment to maintain a stable oil supply has become more pressing since Doha. Progress needs to be made on this.

There is no lack of explanations of the major fluctuations in price we have seen in recent years. Many stakeholders benefit from a high oil price – as long as demand does not collapse. On the other hand, a high oil price hits the poorest countries hardest. And it is also having an increasing impact on broad low-income sections of the population in less-poor countries. Energy bills are accounting for a rising proportion of consumer spending.

One key response to these challenges is energy efficiency. Energy saving is still the best energy source. Ensuring that energy is consumed economically, and giving top priority to energy efficiency, are not measures targeted against the producer countries.

On the contrary: efficient use of oil and energy conserves resources and thus extends their lifetime, not least in the interest of the producers.

This means that producers and consumers gain time in which to prepare for a future energy mix with a higher proportion of new energy sources. They should start using the time now – and they should do so together. An enormous market is going to develop here. That already seems clear today.

The International Energy Forum emerged in the light of two oil crises. So far, the emphasis has chiefly been on a secure supply of what is currently our most important and most versatile fuel. Oil will remain the dominant theme of our dialogue for a long time to come.

But this much is already clear: as the dialogue becomes deeper and more established, it fosters an understanding of the interests, perspectives and constraints on both sides – consumers and producers. In this way, trust is built up. Both sides are becoming more and more focused on the interrelationships of a future global energy policy. Alongside security of supply, other increasingly important topics include the energy mix, efficiency, technology and climate protection.

The International Energy Forum can make a major contribution to a global dialogue reaching beyond the traditional issues relating to the oil market. It is the only organisation of its type which is open to any country which has questions to ask about a secure and sustainable energy future.

I am glad that Germany can continue to support the work of the IEF, both as co-host at the 12th International Energy Forum in Mexico in 2010, and as a member of the Executive Board.