15 May '11, 11pm

Weaning business off its oil dependency

Just four years ago, the price of oil was below $50 a barrel. Now Brent crude is typically selling above $100 a barrel. While there have been some short-lived falls in prices recently, the sudden rebound to more than $100 shows that businesses cannot rely on any long-term dips in prices. Indeed, the International Energy Agency (IEA) has warned that a continuation of this prolonged price inflation, combined with systemic volatility, could put the fragile global economy at risk - and it puts increasing pressure on businesses to reduce their dependency on the ‘the black stuff'. There is no doubt that businesses need to find ways to insulate themselves against the unstable energy market. But to do this successfully, they will not only need to invest in alternative fuels and technology, they will have to fundamentally alter how they view energy efficiency. For many years the Ca...

Full article: http://www.businessgreen.com/bg/industry-voice-blog/20708...

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