Watching Government: IEA concerned about capital

Top officials from International Energy Agency member governments met in Paris on May 3 against a backdrop of crude oil prices that had been above $50/bbl for several weeks. The communiqué that came out of that meeting did not have any surprises. It did make some basic, important points.The officials agreed, for example, that energy security remains IEA’s main purpose. “Persistent high energy prices are a significant concern for us as they are a drag on economic activity and growth and penalize the poor,” they said.They expressed concern over oil market speculation but added that it was not the underlying cause of volatility and high prices. “Energy markets ...

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