19//06/09
Reduce consumption rather than increase production, says Director of Windsor Energy Group

Paul Tempestt, Director of the Windsor Energy Group, spoke at Bolivar Hall about oil production and consumption worldwide and predicted that competition for commodities and natural resources will increase to unseen levels.

Tempesst’s talk was part of the “Latin American and Energy Roundtable”, a conference hosted by the Venezuelan Embassy in London and the Windsor Energy Group (WEG) to highlight the importance of energy sectors in Latin America.

The Director of Windsor Energy Group made the concluding remarks to what was a successful conference, which included presentations from various Latin American Embassies, discussing the different energy sectors in their countries.

Tempestt closed the conference by saying. “Windsor Energy Group takes a global view.  We have been looking at recent global energy production and concluded that If you take the growth and consumption of energy globally over the last 30 years, you will find that it comes from the increase of 72%. If you take the increase over the last decade you will realize what an enormous acceleration has come from South-East Asia, and if you were to project those growth rates sector by sector for the last decade and projected that forward with 30 years, you have another doubling in consumption of energy globally. I personally do not believe that can happen but what that does signify is that there will be an increase in competition for the resources in particular for those resources coming into national trade. That process is bound to be driven by price, and the solution to the global problem rests on consumption. It is the question of efficiency and using what we have much more efficiently than what we are doing in the present”.

Tempestt once again thanked the Venezuelan Ambassador Samuel Moncada for hosting the event.

In addition to Tempesst, the conference included the contributions of the ambassadors of Venezuela, Bolivia, Colombia, Cuba, Brazil and Mexico in the UK.

Embassy of the Bolivarian Republic of Venezuela Press Office