Thursday, September 29, 2005
Fossil Fuels Set to Become Relics, Says Research Group.
WASHINGTON, D.C., Sep 28 (OneWorld) - Energy drawn from the wind, tide, sun, Earth's heat, and farm waste is poised to begin replacing oil and other fossil fuels, a prominent research group said Wednesday in a wake-up call to industry executives and government officials worldwide.
''Energy markets are about to experience a seismic shift,'' Christopher Flavin, president of the Washington, D.C.-based Worldwatch Institute, said in a speech to oil executives and energy ministers in Johannesburg, South Africa, site of the 18th World Petroleum Congress.
''The question for oil executives is whether you're in the oil business or the energy business.''
The conference's 5,000 participants included ExxonMobil President Rex Tillerson and Saudi Arabian Oil Minister Ali Al-Naimi, Worldwatch said.