Watching The World: Huhne's energy plan

Eric WatkinsOil Diplomacy EditorBritain should reduce its reliance on oil and move towards renewable energy. That's the view of Chris Huhne, Britain's minister of energy and climate change."I asked economists at [the Department of Energy and Climate Change] to look at how a 1970s style oil price shock would play out today," Huhne said."They found that if the oil price doubled, as from $80[/bbl] last year to $160[/bbl] this year, it could lead to a cumulative loss of GDP of around £45 billion over 2 years," he said."This is not just far-off speculation," he claimed, adding, "It is a threat here and now. And the faster we move to a low-carbon economy...

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