Desmarest: Efficiency key to avoiding crisis

Doris Leblond
OGJ Correspondent

PARIS, Feb. 16 -– Improved energy efficiency is "a critical step in avoiding an energy crisis," says Thierry Desmarest, chairman and chief executive officer of Total SA.

At a press conference, he pointed out that oil resources remain important, with conventional oil reserves representing 40 years of current consumption, more it did than 30 years ago when consumption was much lower. The challenge, Desmarest said, is to reduce oil demand growth to less than 1%/year.

"One cannot let oil demand grow to the peak oil stage," he cautioned.

High oil prices will concentrate demand to the transport and petrochemical applications. Little oil should be used for electricity and heating, according to Desmarest.

He advocated development of energy conservation in residential and commercial markets, continued improvements in industrial processes and power plant efficiency through research, increases in transportation efficiency and preparation for technological breakthroughs such as fuel cells, and development of renewable and nuclear energy sources.

He said a long-term role for gas will require expansion of the global LNG market.